Document:

exv10w3

 

Exhibit 10.3

CONVEYANCE OF PRODUCTION PAYMENTS

(PP1 AND PP2)

          This CONVEYANCE OF PRODUCTION PAYMENTS (this “Conveyance”), dated as of February 22,
2006 (the “Effective Date”), is from SOCIÉTÉ DES MINES DE TAPARKO, also known as SOMITA,
SA, a société anonyme formed under the laws of the Republic of Burkina Faso (“Grantor”) to
ROYAL GOLD, INC., a corporation formed under the laws of Delaware, USA (“Grantee”).

Recitals

          A. Grantor and Grantee entered into a Funding Agreement dated as of December 1, 2005 (the
“Original Funding Agreement”), as amended by First Amendment to Funding Agreement dated as
of February 8, 2006 (the “First Amendment”), and as further amended and restated by Amended
and Restated Funding Agreement dated as of February 22, 2006 (as so amended and restated, the
“Funding Agreement”). Pursuant to the Funding Agreement, Grantee agreed to provide Grantor
funding in the amount of U.S. $35,000,000 to be used in the development of the Taparko – Bouroum
Project (defined below) in the Republic of Burkina Faso.

          B. Prior to the date of this Conveyance, Grantee has provided Grantor the amount of $9,414,000
under the First Tranche pursuant to the terms and conditions of the Original Funding Agreement, as
amended by the First Amendment.

          C. Originally under the terms of the Original Funding Agreement, and as now included in the
terms and conditions of the Funding Agreement, as consideration for Grantee agreeing to provide
such funding to Grantor, Grantor agreed to grant to Grantee, among other things, certain production
payments relating to the Taparko – Bouroum Project, as more specifically described herein.

          D. As a condition precedent to Grantee’s obligation to fund the Second Tranche under the
Funding Agreement, Grantor must execute and deliver this Agreement to Grantee.

Agreement

          Therefore, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Grantor and Grantee agree as follows:

ARTICLE I

Definitions and References

          1.1 General Definitions. As used herein the terms “Conveyance,”
“Conveyance of Tail Royalty and Grant of Milling Fee,” “Effective Date,” “First
Amendment,” “Funding Agreement,” “Grantor,” “Grantee” and “Original
Funding Agreement” shall have the meanings ascribed thereto above, and the following terms
shall have the following meanings:

 

 

          “Average Gold Price” means, for any calendar month, the average daily P.M. price fixed
for gold by the London Bullion Association as reported in the Wall Street Journal or any
other agreed-upon successor publication for the applicable calendar month; provided. however, that
for the purposes of calculating PP2, in no event shall the Average Gold Price exceed $1000 per
ounce.

          “Bouroum Lands” means all of the land included in the Bouroum Permit, being
approximately 11.7 square kilometers, which land is more particularly described in Schedule A
attached hereto.

          “Bouroum Permit” means Decree No. 2005-342/PRES/PM/MCE/MFB issued by the Government of
the Republic of Burkina Faso on June 21, 2005, a copy of which is attached hereto as Schedule A.

          “Grantor’s Account” means Grantor’s metals account at Citibank NA in London, England,
or such other metals account as Grantor may hereafter establish.

          “Lands” means the Bouroum Lands and the Taparko Lands.

          “Month” means a calendar month.

          “PP1” has the meaning set forth in Section 2.1(a) below.

          “PP2” has the meaning set forth in Section 2.2(b) below.

          “PP2 Production Payment Rate” means the rate, expressed as a percentage, calculated as
follows:

     (a) when the Average Gold Price for such Month is $430 per ounce or more, the Average
Gold Price for such Month divided by 100 (e.g., a $440 gold price divided by 100 = 4.4%);

     (b) when the Average Gold Price for such Month is $385 per ounce or less, the Average
Gold Price for such Month divided by 90; and

     (c) when the Average Gold Price for such month is between $385 and $430 per ounce,
4.3%.

          “Planned Recoverable Ounces” means 804,420 troy ounces of gold.

          “Production Payments” shall have the meaning given such term in Section 2.1 hereof.

          “Taparko – Bouroum Project” means development and exploitation of the Taparko Lands
and the Bouroum Lands for production of gold and associated precious metals, including construction
of a mine, support facilities and the Taparko Processing Facility.

          “Taparko Lands” means that portion of the land included in the Taparko Permit that is
more particularly described in Schedule B hereto, being approximately 34.7 square kilometers out of
the total 666.5 square kilometers included in such permit.

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          “Taparko Permit” means Decree No. 2004-329/PRES/PM/MCE/MFB/MEDE/MECV issued by the
Government of the Republic of Burkina Faso on August 6, 2004, a copy of which is attached hereto as
Schedule B.

          “Taparko Processing Facility” means the CIL processing facility to be constructed by
Grantor on or adjacent to the Taparko Lands, capable of milling and processing at least 1,000,000
tonnes of ore per year.

          “Through-Put Production” means all production processed through the Taparko Processing
Facility, whether or not the same was mined from the Taparko Lands or the Bouroum Lands.

          1.2 Exhibits. All Exhibits attached to this Conveyance are part hereof for all
purposes.

          1.3 References and Titles. All references in this Conveyance to Exhibits, Articles,
Sections, Subsections, and other subdivisions refer to the Exhibits, Articles, Sections,
Subsections and other subdivisions of this Conveyance unless expressly provided otherwise. Titles
and headings appearing at the beginning of any subdivision are for convenience only and do not
constitute any part of any such subdivision and shall be disregarded in construing the language
contained in this Conveyance. The words “this Conveyance,” “herein,” “hereby,” “hereunder” and
words of similar import refer to this Conveyance as a whole and not to any particular subdivision
unless expressly so limited. The phrases “this Section” and “this Subsection” and similar phrases
refer only to the Sections or Subsections hereof in which the phrase occurs. The word “or” is not
exclusive. Pronouns in masculine, feminine and neuter gender shall be construed to include any
other gender. Words in the singular form shall be construed to include the plural and words in the
plural form shall be construed to include the singular, unless the context otherwise requires.

ARTICLE II

Conveyance

          2.1 Conveyance. Subject to the limitations set forth in this Article II, Grantor
hereby grants, bargains, sells, conveys, assigns, sets over and delivers unto Grantee, as
production payments, the following (each, a “Production Payment” and collectively, the
“Production Payments”):

          (a) A fifteen percent (15%) production payment in and to all gold contained in the
Through-Put Production, such production payment to be calculated as follows: (i) the total troy
ounces of gold contained in Through-Put Production that are outturned to Grantor’s Account during a
given Month as reported by the applicable metal refinery, times (ii) the Average Gold Price for
such Month, times (iii) fifteen percent (15%) (the foregoing production payment is hereinafter
called “PP1”); and

          (b) A variable rate production payment in and to all gold contained in the Through-Put
Production, such production payment to be calculated as follows: (i) the total troy ounces of

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gold contained in Through-Put Production that are outturned to Grantor’s Account during a
given Month as reported by the applicable metal refinery, times (ii) the Average Gold Price for
such Month, times (iii) the PP2 Production Payment Rate (the foregoing production payment is
hereinafter called “PP2”).

          To have and to hold the Production Payments unto Grantee, its successors and assigns forever,
subject to the terms, provisions and conditions contained in this Conveyance.

          2.2 Limitations and Termination.

          (a) PP1 shall remain in full force and effect until the earlier of (i) payments made to
Grantee under PP1 equaling US $35,000,000 (which, for greater certainty, shall include payments on
account of withholdings if and to the extent required by applicable law, and all other applicable
taxes) or (ii) the amount of the Through-Put Production is equal to or greater than the Planned
Recoverable Ounces, and Grantor has made all payments under PP1 required to be made with respect
thereto.

          (b) PP2 shall remain in full force and effect until the termination of PP1.

          (c) Upon termination of the Production Payments as above provided, all rights, titles and
interests herein conveyed by Grantor shall automatically terminate and vest in Grantor and, upon
request of Grantor, Grantee shall execute and deliver such instrument or instruments as may be
necessary to evidence the termination of the Production Payments.

          2.3 Limitation on Recourse. Grantee shall look solely to the Lands and, with respect
to production from lands other than the Lands, the Through-Put Production, for satisfaction and
discharge of the Production Payments, and Grantor shall not be personally liable for the payment
and discharge thereof.

          2.4 Non-Operating, Non-Expense-Bearing Interests. The Production Payments conveyed
hereby are non-operating, non-expense-bearing interests in and to production from the Lands and the
Through-Put Production from lands other than the Lands, limited as set forth above, free of all
cost and expense of production, operations, milling, smelting, refining and delivery prior to being
outturned at Grantor’s Account. In no event shall Grantee ever be liable or responsible in any way
for payment of any costs, expenses or liabilities attributable to the Taparko – Bouroum Project (or
any part thereof) or incurred in connection with the production, operations, milling, smelting,
refining and delivery of Through-Put Production prior to being outturned at Grantor’s Account.

          2.5 Free of Royalties and Other Burdens. The Production Payments shall be free of
(and without deduction therefrom of) any and all royalties and other burdens on production and
shall bear no part of same; and Grantor shall defend, indemnify and hold Grantee harmless from and
against any loss or claim with respect to any such royalties and other burdens on production or any
claim by the owners or holders of such royalties and other burdens on production. For greater
certainty, all Production Payments made hereunder shall be net of any withholdings or other
amounts, if and to the extent required by applicable law, in respect of applicable taxes thereon.

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ARTICLE III

Payment Procedures; Reports

          3.1 Payments of Production Payments. Payments of the Production Payments shall be
made on a calendar quarter basis, within ten (10) business days after the end of each calendar
quarter, by check or wire transfer, at the election of Grantee, to the address set forth in Section
5.2. The amount of each payment shall be equal to the sum of the monthly amounts due for each
Month during such calendar quarter. All payments shall be accompanied by statements that describe
in reasonable detail the basis of calculation of the amounts paid under the Production Payments.

          3.2 Financial Reports. Subject to the confidentiality requirements of Section 4.4,
Grantee shall have the right to be supplied monthly with duplicate settlement sheets from any
refinery, mill, smelter or other purchaser of Through-Put Production, whether or not Through-Put
Production has been sold, and shall contain sufficient information as to the value, pricing and
amounts of intermediate product and final product sold for Grantor’s account so that Grantee will
have access to all information and data that are reasonably necessary and appropriate for it to
determine the amount of Production Payments due it under this Conveyance.

          3.3 Objection, Finality of Payments. Grantee, at its sole election and expense, shall
have the right to perform, not more frequently than once annually following the close of each
calendar year, an audit by any authorized representative of Grantee of Grantor’s accounts relating
to the Production Payments. Any such inspection shall be for a reasonable length of time during
regular business hours, at a mutually convenient time, upon at least ten (10) business days’ prior
written notice by Grantee. All payments of Production Payments made in any calendar year shall be
considered final and in full accord and satisfaction of all obligations of Grantor, unless Grantee
gives written notice describing and setting forth a specific objection to the calculation thereof
within one (1) year following the end of that calendar year. Grantor shall account for any agreed
upon deficit or excess in payments of Production Payments made to Grantee by adjusting the next
monthly statement and payment following completion of such audit to account for such deficit or
excess.

ARTICLE IV

Additional Rights, Obligations and Covenants of the Parties

          4.1 Commingling of Production. Subject to the limitations, conditions and
requirements of this Section 4.1, Grantor shall have the right to mix or commingle, either
underground, at the surface, or at a processing plant or any other treatment facilities, any
production from the Lands with ores or material derived from other lands or properties whether or
not owned, leased or controlled by Grantor. Before commingling, Grantor shall weigh, measure,
sample and analyze the respective ores and materials in accordance with sound mining and
metallurgical practices such that the amount of gold recovered from the Lands can be reasonably and
accurately determined. As products are produced from the commingled ores, Grantor shall calculate
from representative samples the average percentage recovery of products

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          produced from the commingled ores during each month. In obtaining representative samples and
calculating the average grade of commingled ores and average percentage of recovery, Grantor may
use procedures that are in accordance with best practices in the mining and metallurgical industry.
The records relating to commingled ores shall be made available for inspection by Grantee, at
Grantee’s sole expense, at all reasonable times and shall be retained by Grantor for a period of
one (1) year after the calendar year in which the commingling occurred. Notwithstanding the
foregoing provisions of this Section 4.1, Grantor shall not commingle production from the Lands
with ores or minerals derived from other lands or properties if such

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commingling has a reasonable likelihood of reducing the recovery rate of metals from the Lands
below what the recovery rate would have been without commingling. Any disputes concerning
commingling procedures or results or the applicability of the prohibition in the preceding sentence
shall be resolved pursuant to the procedure set forth in Section 5.9.

          4.2 Geological and Other Data and Reports. From and after the date of execution of
this Conveyance, Grantor shall deliver to Grantee not less frequently that quarterly, or otherwise
shall make available, the following data and information relating to operations conducted on or for
the benefit of the Lands and with respect to the Taparko Processing Facility:

          (a) The monthly operations and exploration report prepared by Grantor for operations on the
Lands and with respect the Taparko Processing Facility;

          (b) The annual reserve report for the Lands prepared by Grantor, along with any updates, as
and when any of the same have been finalized and approved by Grantor;

          (c) Grantor’s life of mine plan relating to the Taparko – Bouroum Project;

          (d) The annual plan and budget prepared by Grantor relating to the Taparko – Bouroum Project
and any amendments thereto, as and when any of the same have been finalized and approved by
Grantor; and

          (e) Any additional material engineering or economic studies or analyses prepared by Grantor
and relating to the Lands and the Taparko – Bouroum Project as and when any of the same have been
finalized and approved by Grantor.

          4.3 Inspection. Grantee and its authorized agents who are experienced in mining
operations, at Grantee’s sole risk and expense, shall have the right, exercisable at reasonable
intervals and during regular business hours, at a mutually convenient time, and in a reasonable
manner conforming to Grantor’s safety rules and regulations and so as not to interfere with
Grantor’s operations, to go upon the Lands and the premises of the Taparko Processing Facility for
the purposes of inspecting same. Grantee shall furnish Grantor with prior written notice of the
time and place of any inspection by Grantee pursuant to this Section 4.3. Grantee shall defend,
indemnify and hold Grantor harmless from and against all costs incurred (including reasonable
attorneys’ fees and the costs of defending any such claims) based on claims for damages, including
injury or damage to other persons or property, arising out of any death, personal injury or
property damage sustained by Grantee, its agents or employees, while in or upon the Properties,
unless such death, injury or damage results from Grantor’s gross negligence or willful misconduct.

          4.4 Confidentiality. Grantee shall not, without the prior written consent of Grantor,
disclose to any third party (excluding, however, any representative, affiliate, agent, consultant
or contractor of Grantee who has a bona fide need to be informed) any information concerning

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operations, including exploration, on the Properties which is not generally available to the
public; provided, however, that upon not less than five (5) days’ prior written notice to Grantor
setting forth the nature and content of the proposed disclosure, Grantee may disclose information
or data pertaining to the Lands, the Taparko – Bouroum Project and the Taparko Processing Facility
to: (a) any third party to whom Grantee in good faith anticipates selling or assigning all or a
part of its interest hereunder, or (b) any lender or underwriter from whom Grantee is seeking to
obtain funds. Grantee shall require those parties to keep the information so provided
confidential. If either Grantor or Grantee determines in good faith that a disclosure is required
for compliance with applicable laws, rules, regulations or orders of any government agency or stock
exchange having jurisdiction, that party shall provide as much prior notice to the other party of
the nature and contents of the proposed disclosure, for the review and comment of the other party,
as is reasonably possible under the circumstances.

          4.5 No Abandonment of Properties. Until satisfaction of the Production Payments,
Grantor shall not abandon the Taparko – Bouroum Project, which shall include, without limitation,
suspension of construction, operation of maintenance of the Taparko – Bouroum Project, except for
cessation of operations under care and maintenance.

          4.6 Processing of Ore from the Lands. Grantor hereby covenants and agrees with
Grantee that all ore produced from the Lands shall be processed in the Taparko Processing Facility.

          4.7 Refining Contracts. Grantor hereby covenants and agrees with Grantee that during
the entire term of this Conveyance, Grantor shall maintain in full force and effect refining
contracts with smelter and/or refiners reasonably acceptable to Grantee, and Grantor shall use its
best efforts to cause such refining contracts to provide for, where possible, payment by the
refiner and/or smelter directly to Grantee of amounts due hereunder (i) in cash or, (ii) upon
request by Grantee and if not prohibited by applicable law, in kind. If the “in kind” arrangement
is possible with a refiner, then such relationship shall be a direct relationship between Grantee
and the refiner with respect to the payment and production to be taken in kind, with no further
involvement, obligation, liability, or risk of loss to Grantor or High River Gold Mines Ltd., a
corporation formed under the laws of Canada, after credit of the applicable cash payment to the
account of Grantee, such that the conversion to “in kind” shall be upon such terms and conditions
as the refiner and Grantee agree.

ARTICLE V

General Provisions

          5.1 Assignment. After Completion (as defined in the Funding Agreement) of the Taparko
– Bouroum Project, either party may assign its interests under this Conveyance freely, in whole or
in part; provided, however, that any transfer or conveyance by either party of any interest in the
Production Payments or in the Lands or the Taparko Processing Facility shall be expressly made
subject to, and the assignee or transferee shall commit in writing to be bound by, all of the terms
and conditions and covenants of this Conveyance. The party assigning its interests under this
Conveyance shall provide written notice of such assignment to the other party pursuant to Section
5.2.

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          5.2 Notices. Any notice, election, report or other correspondence required or
permitted hereunder shall be in writing and shall be deemed sufficiently given or furnished if
delivered by personal delivery, by facsimile or other electronic transmission, or by delivery
service with proof of delivery, to each of the parties at its address below (unless changed by
similar notice in writing given by the party whose address is to be changed):

If to Grantor:

Somita SA

01 B.P. 2509 OUAGADOUGOU 01

1648 Boulevard Tansoba TAB-KOM,

Secteur 25

Burkina Faso

Attention: Directeur Generale

Facsimile: 226-50-358187

with a copy to Cassels Brock & Blackwell LLP:

Cassels Brock & Blackwell LLP

2100 Scotia Plaza, 40 King Street W.

Toronto, Ontario M5H 3C2

Attention: David Poynton

Facsimile: (416) 644-9348

If to Grantee:

Royal Gold, Inc.

1660 Wynkoop St.

Suite 1000

Denver, Colorado 80202-1132

Attention: President

Facsimile Number: 303-595-9385

Any such notice or communication shall be deemed to have been given (a) in the case of personal
delivery or delivery service, as of the date of first attempted delivery during normal business
hours at the address provided herein, (b) in the case of facsimile, upon receipt, or (c) in the
case of other electronic transmission, upon acknowledgment of receipt by the recipient within
twenty-four (24) hours of first attempted delivery.

          5.3 Amendments and Waiver. No modifications or waivers of the terms and conditions of
this Conveyance shall be binding upon either party unless in writing, dated subsequent to the date
of this Conveyance, and executed by an authorized representative of each party. No waiver by
either party of a breach of any of the provisions of this Conveyance shall be construed as a waiver
of any subsequent breach, whether of the same or of a different character.

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          5.4 Relationship of the Parties. The relationship of the parties hereto is
contractual only. The Production Payments shall not grant to Grantee any rights to participate or
influence management or decision-making regarding operations on the Lands, Taparko – Bouroum
Project or the Taparko Processing Facility, nor shall it obligate the Grantee to assume any
responsibilities for costs of Grantor’s operations on the Lands, Taparko – Bouroum Project or the
Taparko Processing Facility or any liabilities resulting therefrom.

          5.5 Further Instruments. The parties hereto agree that they will execute any and all
instruments as may be necessary or required to carry out and effectuate any and all of the
provisions of this Conveyance.

          5.6 Binding Effect. This Conveyance shall be binding upon, and shall inure to the
benefit of, the parties hereto and their respective successors and assigns.

          5.7 Continuation and Priority. The Production Payments granted to Grantee by this
Conveyance shall continue for so long as Grantor, its successors and assigns retain any interest in
the Lands, Taparko – Bouroum Project or the Taparko Processing Facility. These Production Payments
shall have priority over, and in no event shall be subordinated to, any project or other financing
that Grantor may obtain with respect to the Lands, Taparko – Bouroum Project or the Taparko
Processing Facility after the Effective Date of this Conveyance, unless Grantee specifically so
provides in writing. Grantee’s rights to payments under the Production Payments shall not be
subordinated to any other person or source by Grantor or any related party, except for statutory
liens for amounts not yet due and payable and liens imposed by the Mining Convention applicable to
the Lands or governing law to the extent not yet due and payable.

          5.8 Governing Law. Without regard to principles of conflicts of law, this Conveyance
is made under and shall be interpreted and enforced in accordance with the laws of the State of
Colorado applicable to contracts made and to be performed entirely within such state and the laws
of the United States of America, except that, to the extent that the law of the jurisdiction in
which the real property is located (or which is otherwise applicable to the real property)
necessarily governs with respect to procedural and substantive matters relating to the creation and
enforcement of the interests created herein, the law of such other jurisdiction shall apply.

          5.9 Arbitration Conducted by International Chamber of Commerce. All disputes between
the parties hereto (which for purposes of this Section 5.9 includes Grantor and Grantee and their
respective parents, affiliates and subsidiaries) that arise out of, relate to or are in connection
with this Agreement or any related agreement, will be exclusively, finally and conclusively settled
by binding international arbitration under the Rules of Arbitration of the International Chamber of
Commerce (the “ICC”) then in effect (the “Rules”), except as specifically modified
by this Agreement. The Parties shall continue to perform their respective obligations under this
Agreement pending conclusion of any such arbitration.

          (a) Initiation of Arbitration.

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          (i) Prior to initiating an arbitration proceeding with the ICC, the parties shall negotiate in
good faith to resolve the dispute. To that end, the party wishing to initiate negotiations shall
notify the other party in writing about its intention to do so, including a brief summary of the
disputed issue, its estimate of the amount in controversy, and suggesting a date and venue for a
first meeting, at which the parties shall be represented by officers duly empowered to resolve the
dispute. In the event that the parties are unable to resolve the dispute within a period of 15
days after commencement of such good faith negotiations, or upon agreement by the parties to submit
the dispute to arbitration, either party may commence an arbitration proceeding by delivering a
Request for Arbitration (the “Request for Arbitration”) to the Secretariat of the ICC (the
“Secretariat”) in accordance with the terms of this Section 5.9 and the Rules.

          (ii) For all disputes, the arbitration hereunder shall be by three independent and impartial
arbitrators. Grantor and Grantee shall each appoint one arbitrator within 30 days after the
Request for Arbitration has been delivered to the Secretariat and the two arbitrators so appointed
shall select a third arbitrator within 60 days after the Request for Arbitration has been delivered
to the Secretariat. In the event that the parties or the arbitrators fail to select arbitrators as
required above, the ICC shall select such arbitrators in accordance with the terms of this Section
5.9.

          (iii) Each of the parties acknowledges and agrees that the other party would be damaged
irreparably in the event any of the provisions of this Agreement are not performed in accordance
with their specific terms. Accordingly, notwithstanding the provisions of Section 5.9(a)(i),
pending completion of arbitration pursuant to this Section 5.9, either Grantor or Grantee shall
have the right to seek a temporary restraining order, injunctive relief or other interim or
provisional relief on the ground that such relief would otherwise be available at law or in equity.
If any such relief is obtained, the arbitration panel will address the continuance, modification
or termination of such relief and their order and any such decision regarding relief shall be
binding on the parties

     (b) Arbitration Procedures.

          (i) The arbitration shall be conducted in the English language in London, England or at such
other location as the parties may agree.

          (ii) All disputes arising out of or in connection with this Agreement and relating to the
Parties’ rights and obligations in connection with this Agreement (including without limitation the
validity of the agreement of the parties to arbitrate, the arbitrability of the issues submitted to
arbitration hereunder, the existence and validity of the Agreement, and any conflict of laws issues
arising in connection with the Agreement or this agreement to arbitrate) shall be finally settled
in accordance with the Rules. In addition, where the Rules are silent, the proceedings before the
“Arbitral Tribunal” (as defined in the Rules) shall be governed by the procedural rules established
by the Arbitral Tribunal.

          (iii) The arbitration panel shall conduct a hearing no later than 90 days after delivery of
the Request for Arbitration, and a decision shall be rendered by the arbitration panel within 30
days after the final hearing.

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          (iv) At the hearing, the parties shall present such evidence and witnesses as they may choose,
with or without counsel. Adherence to formal rules of evidence shall not be required but the
Arbitral Tribunal shall consider any evidence and testimony that it determines to be relevant, in
accordance with procedures that it determines to be appropriate.

     (c) Arbitral Awards.

          (i) The arbitration award shall be in writing and shall specify the factual and legal bases
for the award.

          (ii) Neither Grantor nor Grantee shall be entitled to, and no award shall include any amount
for, lost profits or revenues, lost business opportunities, business interruption, or punitive or
exemplary damages for any claim arbitrated pursuant to this Section 5.9.

          (iii) The arbitrators shall be entitled to a fee commensurate with their fees for professional
services requiring similar time and effort. The fees of the arbitrators and other costs of the
arbitration shall be borne equally by the parties, except when the arbitrators decide to impose the
total cost on the defeated party.

     (c) Enforcement. All decisions of the Arbitral Tribunal shall be final and binding on the
parties and may be entered against them in any court of competent jurisdiction. Any judgment
rendered by the Arbitral Tribunal against a party may be executed against such party’s assets in
any jurisdiction where the party has assets. Each of the parties irrevocably submits to the
non-exclusive jurisdiction of the appropriate courts in the State of Colorado in any legal action
or proceeding relating to such execution of judgment.

     (d) Limitations.

          (i) Any dispute brought pursuant to the terms of this Section 5.9 must be brought within two
years of the date that the party aggrieved by the event or condition, or notice of such event or
condition giving rise to the dispute becomes aware of the same.

          (ii) This agreement to arbitrate shall survive the rescission or termination of this
Conveyance.

     5.10 Rule Against Perpetuities. Any right or interest granted under this Conveyance
(including but not limited to Grantor’s obligations under Sections 4.5 and 4.6) that would violate
any applicable Rule Against Perpetuities or any similar rule of law, shall terminate twenty-one
(21) years after the death of the last survivor of the children and grandchildren of Robert F.
Kennedy who are alive on the Effective Date.

     5.11 Recordation of Conveyance. Grantor and Grantee shall file and record executed
counterparts of this Conveyance in official records as may be necessary and possible for the
purpose of providing constructive notice to third parties of Grantor’s and Grantee’s respective
rights and obligations hereunder with respect to the matters set forth herein.

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     This Conveyance has been executed on the dates set forth below, to be effective as of the
Effective Date.

	 	 	 	 	 
	 	GRANTOR:

SOCIÉTÉ DES MINES DE TAPARKO

 	 
	 	By:  	/s/ David Mosher	 
	 	 	David Mosher 	 
	 	 	Director 	 
	 
	 	 	 
	 	By:  	/s/ Daniel Vanin	 
	 	 	Daniel Vanin 	 
	 	 	Director 	 
	 
	 	GRANTEE:

ROYAL GOLD, INC.

 	 
	 	By:  	/s/ Donald
Baker	 
	 	 	 	 
	 	Name:  	Donald
Baker	 
	 
	 	Title:  	V.P.
Corporate Development	 
	 

 

 

ACKNOWLEDGMENT CERTIFICATIONS

[Notary block language or forms that conform to Burkina Faso law

to be provided by Burkina Faso counsel prior to execution]FORM OF INDEMNITY AGREEMENT

    
      Exhibit
        10.1

      
 

      
        NVIDIA
          CORPORATION

        INDEMNITY
          AGREEMENT

        
                  THIS
            AGREEMENT is
            made and entered into this ·
            day of
·,
            2006 by
            and between NVIDIA
            Corporation,
            a
            Delaware corporation (the “Corporation”),
            and
            ______________________ (“Agent”).

          
            RECITALS

            
              Whereas,
                Agent
                performs a valuable service to the Corporation in the capacity as
                a director,
                officer, employee or agent of the Corporation;

              
                Whereas,
                  the
                  stockholders of the Corporation have adopted bylaws (the “Bylaws”)
                  and
                  the Amended and Restated Certificate of Incorporation of the Corporation
                  (the
“Certificate”)
                  providing for the indemnification of the directors, officers, employees
                  and
                  other agents of the Corporation, including persons serving at the
                  request of the
                  Corporation in such capacities with other corporations or enterprises,
                  as
                  authorized by the Delaware General Corporation Law, as amended
                  (the
“Code”);

                
                  Whereas,
                    the
                    Bylaws, the Certificate and the Code, by their non-exclusive
                    nature, permit
                    contracts between the Corporation and its directors, officers,
                    employees and
                    other agents with respect to indemnification of such persons;
                    and 

                  
                    Whereas,
                      in
                      order to induce Agent to continue to serve as a director, officer,
                      or employee
                      of the Corporation, the Corporation has determined and agreed
                      to enter into this
                      Agreement with Agent;

                    
                      Now,
                        Therefore,
                        in
                        consideration of Agent's continued service as a director,
                        officer, employee or
                        agent of the Corporation that began on _________ ___, _____,
                        the parties hereto
                        agree as follows:

                      
                        AGREEMENT

                        
                          1. DEFINITIONS.
                            

                          
                            (a)
                               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,
                              and other out-of-pocket costs of whatever nature),
                              actually and reasonably
                              incurred by Agent in connection with the investigation,
                              defense or appeal of a
                              Proceeding or establishing or enforcing a right to
                              indemnification under this
                              Agreement, the Code or otherwise, and amounts paid
                              in settlement by or on behalf
                              of Agent, but shall not include any judgments, fines
                              or penalties actually
                              levied against Agent for such individual’s violations of law.

                             

                            
                              
                                
                                

                              

                              
                                1

                                
                                  

                                

                              

                              
                                
                                

                              

                            

                            (b) Change
                              in Control.
                              For
                              purposes of this Agreement, a “Change
                              in Control”
shall
                              be deemed to have occurred if (i) any “person” (as such term is used in Sections
                              13(d) and 14(d) of the Securities Exchange Act of 1934
                              (the “Act”)),
                              other than a trustee or other fiduciary holding securities
                              under an employee
                              benefit plan of the Corporation or a corporation owned
                              directly or indirectly by
                              the stockholders of the Corporation in substantially
                              the same proportions as
                              their ownership of stock of the Corporation, becomes
                              the "beneficial owner" (as
                              defined in Rule 13d-3 under said Act), directly or
                              indirectly, of securities of
                              the Corporation representing more than twenty percent
                              (20%) of the total voting
                              power represented by the Corporation's then outstanding
                              Voting Securities; or
                              (ii) there is consummated a merger, consolidation or
                              similar transaction
                              involving (directly or indirectly) the Corporation
                              if, immediately after the
                              consummation of such merger, consolidation or similar
                              transaction, the
                              stockholders of the Corporation immediately prior thereto
                              do not own, directly
                              or indirectly, either (A) outstanding Voting Securities
                              representing more than
                              fifty percent (50%) of the combined outstanding voting
                              power of the surviving
                              entity in such merger, consolidation or similar transaction
                              or (B) more than
                              fifty percent (50%) of the combined outstanding voting
                              power of the parent of
                              the surviving entity in such merger, consolidation
                              or similar
                              transaction.

                            
                              (c) Independent
                                Legal Counsel.
                                For
                                purposes of this Agreement, “Independent
                                Legal Counsel”
shall
                                mean an attorney or firm of attorneys, selected in
                                accordance with the
                                provisions of Section 5 hereof, who shall not have
                                otherwise performed services
                                for the Corporation (or for any entity that now or
                                in the future is controlled
                                by, controlling or under common control with the
                                Corporation) or Agent within
                                the last three years (other than with respect to
                                matters concerning the rights
                                of Agent under this Agreement, or of other indemnitees
                                under similar indemnity
                                agreements).

                               

                              (d) Proceeding.
                                For
                                purposes of this Agreement, the term “Proceeding”
shall
                                mean and shall include, without limitation, any threatened,
                                pending, or
                                completed action, suit, arbitration, alternate dispute
                                resolution mechanism,
                                investigation, inquiry, administrative hearing, whether
                                brought in the right of
                                or by the Corporation or otherwise and whether of
                                a civil, criminal,
                                administrative or investigative nature, and whether
                                formal or informal in any
                                case, in which Agent was, is or will be involved
                                as a party or otherwise by
                                reason of the fact that: (i) Agent is or was a director,
                                officer, employee or
                                agent of the Corporation; (ii) Agent took an action
                                while acting as director,
                                officer, employee or agent of the Corporation; or
                                (iii) Agent is or was serving
                                at the request of the Corporation 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 Expense is incurred
                                for which
                                indemnification, reimbursement, or advancement of
                                Expenses may be provided under
                                this Agreement.

                               

                              (e) Voting
                                Securities.
                                For
                                purposes of this Agreement, "Voting
                                Securities"
                                shall
                                mean any securities of the Corporation that vote
                                generally in the election of
                                directors.

                               

                              2. SERVICES
                                TO THE CORPORATION.
                                Agent
                                will serve, at the will of the Corporation or under
                                separate contract, if any
                                such contract exists, as a director, officer, or
                                employee of the Corporation or
                                as a director, officer or other fiduciary of an affiliate
                                of the Corporation
                                (including, but not limited to, any employee benefit
                                plan of the Corporation)
                                faithfully and to the best of Agent's ability so
                                long as Agent is duly elected
                                and qualified in accordance with the provisions of
                                the Bylaws or other
                                applicable charter documents of the Corporation or
                                such affiliate; provided,
                                however, that Agent may at any time and for any reason
                                resign from such position
                                (subject to any contractual obligation that Agent
                                may be subject to apart from
                                this Agreement) and that the Corporation or any affiliate
                                shall have no
                                obligation under this Agreement to continue Agent
                                in any such
                                position.

                              
                                
                                  
                                    
                                    

                                  

                                  
                                    2

                                    
                                      

                                    

                                  

                                  
                                    
                                    

                                  

                                

                                3. INDEMNITY
                                  OF AGENT.
                                  The
                                  Corporation hereby agrees to hold harmless and
                                  indemnify Agent to the fullest
                                  extent authorized or permitted by the provisions
                                  of the Bylaws, the Certificate
                                  and the Code, as the same may be amended from time
                                  to time (but, only to the
                                  extent that such amendment permits the Corporation
                                  to provide broader
                                  indemnification rights than the Bylaws, the Certificate
                                  or the Code permitted
                                  prior to adoption of such amendment). These obligations
                                  and the other
                                  obligations of the Corporation in this Agreement
                                  apply regardless of whether the
                                  conduct giving rise to the obligations occurred
                                  before or occur after the date
                                  this Agreement is executed. 

                                
                                  4. PARTIAL
                                    INDEMNIFICATION.
                                    Agent
                                    shall be entitled under this Agreement to indemnification
                                    by the Corporation for
                                    a portion of the Expenses that Agent becomes
                                    legally obligated to pay in
                                    connection with any Proceeding even if not entitled
                                    hereunder to indemnification
                                    for the total amount thereof, and the Corporation
                                    shall indemnify Agent for the
                                    portion thereof to which Agent is entitled.

                                  
                                            5. CHANGE
                                      IN CONTROL.
                                      The
                                      Corporation agrees that if there is a Change
                                      in Control of the Corporation then,
                                      with respect to all matters thereafter arising
                                      concerning the rights of Agent to
                                      indemnification (including, but not limited
                                      to, any right to advancement of
                                      Expenses) under this Agreement, any other agreement
                                      with the Corporation
                                      providing for indemnification, the Certificate,
                                      Bylaws and applicable law
                                      (collectively, the “Indemnification
                                      Provisions”)
                                      as now
                                      or hereafter in effect, Independent Legal Counsel
                                      (as defined in Section 1
                                      hereof) shall be selected by Agent and approved
                                      by the Corporation (which
                                      approval shall not be unreasonably withheld).
                                      Such Independent Legal Counsel
                                      shall render its written opinion to the Corporation
                                      and Agent as to whether and
                                      to what extent Agent would be permitted to
                                      be indemnified under the
                                      Indemnification Provisions prior to and after
                                      the consummation of such Change in
                                      Control and such opinion shall be binding upon
                                      Agent and the Corporation. The
                                      Corporation agrees to pay the reasonable fees
                                      of the Independent Legal Counsel
                                      referred to above and to fully indemnify such
                                      counsel against any and all
                                      Expenses arising out of or relating to this
                                      Agreement or its engagement pursuant
                                      hereto.

                                    
                                      6. NOTIFICATION
                                        AND DEFENSE OF CLAIM.
                                        Not
                                        later than thirty (30) days after receipt
                                        by Agent of notice of the commencement
                                        of any Proceeding, Agent will, if a claim
                                        in respect thereof is to be made
                                        against the Corporation under this Agreement,
                                        notify the Corporation of the
                                        commencement thereof; but the failure so
                                        to notify the Corporation will not
                                        relieve the Corporation from any liability
                                        which it may have to Agent under this
                                        Agreement or otherwise. With respect to any
                                        such Proceeding as to which Agent
                                        notifies the Corporation of the commencement
                                        thereof:

                                      
                                        (a) the
                                          Corporation will be entitled to participate
                                          therein at its own
                                          expense;

                                        
                                          
                                            
                                              
                                              

                                            

                                            
                                              3

                                              
                                                

                                              

                                            

                                            
                                              
                                              

                                            

                                          

                                          (b) except
                                            as
                                            otherwise provided below, the Corporation
                                            may, at its option and jointly with
                                            any other indemnifying party similarly
                                            notified and electing to assume such
                                            defense, assume the defense thereof,
                                            with counsel reasonably satisfactory
                                            to
                                            Agent. After notice from the Corporation
                                            to Agent of its election to assume the
                                            defense thereof, the Corporation will
                                            not be liable to Agent under this
                                            Agreement for any Expenses subsequently
                                            incurred by Agent in connection with
                                            the
                                            defense thereof except for reasonable
                                            costs of investigation or otherwise as
                                            provided below. Agent shall have the
                                            right to employ separate counsel in such
                                            Proceeding but the Expenses of such counsel
                                            incurred after notice from the
                                            Corporation of its assumption of the
                                            defense thereof shall be at the expense
                                            of
                                            Agent; provided, however, that the Expenses
                                            of Agent's separate counsel shall be
                                            borne by the Corporation if (i) the employment
                                            of counsel by Agent has been
                                            authorized by the Corporation, (ii) Agent
                                            reasonably shall have concluded that
                                            there may be a conflict of interest between
                                            the Corporation and Agent in the
                                            conduct of the defense of such Proceeding,
                                            or (iii) the Corporation in fact
                                            shall not have employed counsel to assume
                                            the defense of such Proceeding or
                                            shall at any time have ceased to actively
                                            pursue the defense thereof. The
                                            Corporation shall not be entitled to
                                            assume the defense of any Proceeding
                                            brought by or on behalf of the Corporation
                                            or as to which Agent shall have made
                                            the conclusion provided for in clause
                                            (ii) above; and 

                                          
                                            (c) the
                                              Corporation shall not be liable to
                                              indemnify Agent under this Agreement
                                              for any
                                              amounts paid in settlement of any Proceeding
                                              effected without its written
                                              consent, which shall not be unreasonably
                                              withheld or delayed. The Corporation
                                              shall be permitted to settle any Proceeding
                                              except that it shall not settle any
                                              Proceeding in any manner which would
                                              impose any penalty or limitation on
                                              Agent
                                              without Agent's written consent, which
                                              may be given or withheld in Agent's
                                              sole
                                              discretion.

                                            
                                              7. EXPENSES.
                                                Promptly
                                                following request by Agent for the
                                                advancement of Expenses, the Corporation
                                                shall advance, prior to the final
                                                disposition of any Proceeding, all
                                                Expenses
                                                incurred by Agent in connection with
                                                such Proceeding upon receipt of an
                                                undertaking by or on behalf of Agent
                                                to repay such amounts if it shall
                                                ultimately be determined by a final
                                                judicial decision from which there
                                                is no
                                                further right of appeal that Agent
                                                is not entitled to be
                                                indemnified.

                                              
                                                8. ENFORCEMENT.
                                                  Any
                                                  right
                                                  to indemnification or advances
                                                  granted by this Agreement to Agent
                                                  shall be
                                                  enforceable by or on behalf of
                                                  Agent in any court of competent
                                                  jurisdiction if
                                                  (a) the claim for indemnification
                                                  or advances is denied, in whole
                                                  or in part, or
                                                  (b) no disposition of such claim is
                                                  made within ninety (90) days of
                                                  request
                                                  therefor. Agent, in such enforcement
                                                  action, if successful in whole
                                                  or in part,
                                                  also shall be entitled to be paid
                                                  the Expense of prosecuting Agent's
                                                  claim.
                                                  Neither the failure of the Corporation
                                                  (including its Board of Directors
                                                  or its
                                                  stockholders) to have made a determination
                                                  prior to the commencement of such
                                                  enforcement action that indemnification
                                                  of Agent is proper in the circumstances,
                                                  nor an actual determination by
                                                  the Corporation (including its
                                                  Board of Directors
                                                  or its stockholders) that such
                                                  indemnification is improper shall
                                                  be a defense to
                                                  the action or create a presumption
                                                  that Agent is not entitled to indemnification
                                                  under this Agreement or otherwise.

                                                 

                                                
                                                  
                                                    
                                                    

                                                  

                                                  
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                                                9. INSURANCE.
                                                  

                                                 

                                                (a) Unless
                                                  otherwise approved by the Board
                                                  of Directors prior to a Change
                                                  in Control, the
                                                  Corporation shall obtain and maintain
                                                  during the term of this Agreement
                                                  directors' and officers' liability
                                                  insurance (“D&O
                                                  Insurance”)
                                                  with
                                                  respect to which Agent shall be
                                                  named as an insured. Notwithstanding
                                                  any other
                                                  provision of this Agreement, the
                                                  Corporation shall not be obligated
                                                  to indemnify
                                                  the Agent for Expenses which have
                                                  been previously paid directly to
                                                  the Agent by
                                                  D&O Insurance. If the Corporation
                                                  has D&O Insurance in effect at the
                                                  time the Corporation receives from
                                                  Agent any notice of the commencement
                                                  of a
                                                  Proceeding, the Corporation shall
                                                  give prompt notice of the commencement
                                                  of such
                                                  Proceeding to the insurers in accordance
                                                  with the procedures set forth in
                                                  the
                                                  policy. The Corporation shall thereafter
                                                  take all reasonably necessary action
                                                  to
                                                  cause such insurers to pay, on
                                                  behalf of the Agent, all amounts
                                                  payable as a
                                                  result of such Proceeding in accordance
                                                  with the terms of such
                                                  policy.

                                                
                                                  (b) In
                                                    the
                                                    event that (i) the D&O Insurance policy is renewed
                                                    but the renewed policy
                                                    does not provide for prior act’s coverage, or (ii) the Corporation
                                                    obtains a new
                                                    D&O Insurance policy for any period
                                                    following the termination of
                                                    the prior
                                                    D&O Insurance, and such new D&O Insurance policy does not provide
                                                    for
                                                    prior act’s coverage, or (iii) the Corporation
                                                    does not renew the D&O
                                                    Insurance policy or obtain a
                                                    new D&O Insurance policy following
                                                    the
                                                    termination of a D&O Insurance policy, then unless
                                                    otherwise determined by
                                                    the Board of Directors, the Corporation
                                                    shall add to the D&O Insurance
                                                    policy or the applicable successor
                                                    D&O Insurance policy a run-off
                                                    endorsement (the “Endorsement”)
                                                    on the
                                                    existing D&O Insurance policy or the applicable
                                                    successor D&O Insurance
                                                    policy subject to the same terms
                                                    and conditions in all material
                                                    respects. Unless
                                                    otherwise approved by the Board
                                                    of Directors prior to the date
                                                    on which the
                                                    Endorsement is obtained, the
                                                    Endorsement shall be non-cancelable
                                                    and shall
                                                    provide for at least a six-year
                                                    extended coverage period for
                                                    any and all claims
                                                    covered under the D&O Insurance policy. The Corporation
                                                    shall pay all
                                                    premiums, commissions and other
                                                    costs or charges incurred in
                                                    obtaining the
                                                    Endorsement and shall promptly
                                                    deliver to Agent a Certificate
                                                    of Confirmation of
                                                    Insurance with respect to such
                                                    Endorsement.

                                                   

                                                  10. SUBROGATION.
                                                    In the
                                                    event of payment under this Agreement,
                                                    the Corporation shall be subrogated
                                                    to
                                                    the extent of such payment to
                                                    all of the rights of recovery
                                                    of Agent, who shall
                                                    execute all documents required
                                                    and shall do all acts that may
                                                    be reasonably
                                                    necessary to secure such rights,
                                                    including the execution of such
                                                    documents
                                                    necessary to enable the Corporation
                                                    effectively to bring suit to
                                                    enforce such
                                                    rights.

                                                  
                                                    11. NON-EXCLUSIVITY
                                                      AND SURVIVAL OF RIGHTS.
                                                      

                                                    
                                                      (a) All
                                                        agreements and obligations
                                                        of the Corporation contained
                                                        herein shall continue
                                                        during the period Agent is
                                                        a director, officer, employee
                                                        or other agent of the
                                                        Corporation (or is or was
                                                        serving at the request of
                                                        the Corporation as a
                                                        director, officer, employee
                                                        or other agent of another
                                                        corporation, partnership,
                                                        joint venture, trust, employee
                                                        benefit plan or other enterprise)
                                                        and shall
                                                        continue thereafter so long
                                                        as Agent shall be subject
                                                        to any possible
                                                        Proceeding. The benefits
                                                        hereunder shall inure to
                                                        the benefit of the heirs,
                                                        executors and administrators
                                                        and assigns of Agent. The
                                                        rights conferred on Agent
                                                        by this Agreement shall not
                                                        be exclusive of any other
                                                        right Agent may have or
                                                        hereafter acquire under any
                                                        statute, provision of the
                                                        Certificate or Bylaws,
                                                        agreement, vote of stockholders
                                                        or disinterested directors,
                                                        or otherwise, both
                                                        as to action in Agent's official
                                                        capacity and as to action
                                                        in another capacity
                                                        while holding office.

                                                       

                                                      
                                                        
                                                          
                                                          

                                                        

                                                        
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                                                      (b) The
                                                        obligations and duties of
                                                        the Corporation to Agent
                                                        under this Agreement shall
                                                        be
                                                        binding on the Corporation
                                                        and its successors and assigns
                                                        until terminated in
                                                        accordance with its terms.
                                                        The Corporation shall require
                                                        any successor (whether
                                                        direct or indirect, by purchase,
                                                        merger, consolidation or
                                                        otherwise) to the
                                                        Corporation or to all or
                                                        substantially all of the
                                                        business or assets of the
                                                        Corporation, expressly to
                                                        assume and agree to perform
                                                        this Agreement in the same
                                                        manner and to the same extent
                                                        that the Corporation would
                                                        be required to perform
                                                        if no such succession had
                                                        taken place.

                                                      
                                                        (c) No
                                                          amendment, alteration or
                                                          repeal of this Agreement
                                                          or of any provision hereof
                                                          shall limit or restrict
                                                          any right of Agent under
                                                          this Agreement in respect
                                                          of
                                                          any action taken or omitted
                                                          by such Agent 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 Certificate, Bylaws
                                                          and this Agreement, it
                                                          is
                                                          the intent of the parties
                                                          hereto that Agent 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
                                                          Agent shall not prevent
                                                          the concurrent assertion
                                                          or employment of any other
                                                          right or remedy by Agent.

                                                        
                                                          12. SEVERABILITY.
                                                            Each of
                                                            the provisions of this
                                                            Agreement is a separate
                                                            and distinct agreement
                                                            and
                                                            independent of the others,
                                                            so that if any provision
                                                            hereof shall be held
                                                            to be
                                                            invalid for any reason,
                                                            such invalidity contained
                                                            herein or unenforceability
                                                            shall not affect the
                                                            validity or enforceability
                                                            of the other provisions
                                                            hereof.
                                                            Furthermore, if this
                                                            Agreement shall be invalidated
                                                            in its entirety on any
                                                            ground, then the Corporation
                                                            nevertheless shall indemnify
                                                            Agent to the fullest
                                                            extent provided by the
                                                            Certificate, Bylaws,
                                                            the Code or any other
                                                            applicable
                                                            law.

                                                          
                                                            13. GOVERNING
                                                              LAW.
                                                              This
                                                              Agreement shall be
                                                              governed exclusively
                                                              by and construed according
                                                              to the laws
                                                              of the State of Delaware,
                                                              as applied to contracts
                                                              between Delaware residents
                                                              entered into and to
                                                              be performed entirely
                                                              within Delaware.

                                                            
                                                              14. AMENDMENT,
                                                                MODIFICATION, WAIVER
                                                                AND TERMINATION.
                                                                No
                                                                amendment, modification,
                                                                termination or cancellation
                                                                of this Agreement
                                                                shall be
                                                                effective unless
                                                                signed in writing
                                                                by both parties hereto,
                                                                provided, however,
                                                                that the Corporation
                                                                shall have the right
                                                                to amend, modify,
                                                                terminate or replace
                                                                this Agreement if:
                                                                (i) there is a change
                                                                in the Code or any
                                                                other applicable
                                                                law; or (ii) the
                                                                Corporation amends,
                                                                modifies, terminates
                                                                or replaces its form
                                                                of Indemnification
                                                                Agreement for directors,
                                                                officers, employees
                                                                and other agents
                                                                of the Corporation;
                                                                provided, that such
                                                                amended or modified
                                                                agreement or such
                                                                new agreement does
                                                                not diminish in any
                                                                material respect
                                                                the rights of Agent
                                                                hereunder. 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.
                                                                

                                                              
                                                                
                                                                  
                                                                    
                                                                    

                                                                  

                                                                  
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                                                                15. 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;
                                                                  provided, however,
                                                                  that this Agreement
                                                                  is a
                                                                  supplement to and
                                                                  in furtherance
                                                                  of the Certificate,
                                                                  Bylaws, the Code
                                                                  and any
                                                                  other applicable
                                                                  law, and shall
                                                                  not be deemed a
                                                                  substitute therefore,
                                                                  nor to
                                                                  diminish or abrogate
                                                                  any
                                                                  rights of Agent thereunder.

                                                                
                                                                  16. INTERPRETATION
                                                                    OF AGREEMENT.
                                                                    It is
                                                                    understood that
                                                                    the parties hereto
                                                                    intend this Agreement
                                                                    to be interpreted
                                                                    and
                                                                    enforced so as
                                                                    to provide indemnification
                                                                    to Agent to the
                                                                    fullest extent
                                                                    now or
                                                                    hereafter permitted
                                                                    by law.

                                                                  
                                                                    17. IDENTICAL
                                                                      COUNTERPARTS.
                                                                      This
                                                                      Agreement may
                                                                      be executed
                                                                      in one or more
                                                                      counterparts,
                                                                      each of which
                                                                      shall be
                                                                      deemed for
                                                                      all purposes
                                                                      to be an original
                                                                      but all of
                                                                      which together
                                                                      shall
                                                                      constitute
                                                                      this Agreement.

                                                                    
                                                                      18. 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.

                                                                      
                                                                        19. NOTICES.
                                                                          All
                                                                          notices,
                                                                          requests,
                                                                          demands
                                                                          and other
                                                                          communications
                                                                          hereunder
                                                                          shall be
                                                                          in
                                                                          writing
                                                                          and shall
                                                                          be deemed
                                                                          to have
                                                                          been duly
                                                                          given (i)
                                                                          upon delivery
                                                                          if
                                                                          delivered
                                                                          by hand
                                                                          to the
                                                                          party to
                                                                          whom such
                                                                          communication
                                                                          was directed
                                                                          or (ii)
                                                                          upon the
                                                                          third business
                                                                          day after
                                                                          the date
                                                                          on which
                                                                          such communication
                                                                          was
                                                                          mailed
                                                                          if mailed
                                                                          by certified
                                                                          or registered
                                                                          mail with
                                                                          postage
                                                                          prepaid:

                                                                        
                                                                          (a) If
                                                                            to
                                                                            Agent,
                                                                            at the
                                                                            address
                                                                            indicated
                                                                            on the
                                                                            signature
                                                                            page
                                                                            hereof.

                                                                          
                                                                            (b) If
                                                                              to
                                                                              the
                                                                              Corporation,
                                                                              to

                                                                            
                                                                              NVIDIA
                                                                                Corporation

                                                                              Attn:
                                                                                General
                                                                                Counsel

                                                                              2701
                                                                                San
                                                                                Tomas
                                                                                Expressway

                                                                              Santa
                                                                                Clara,
                                                                                California
                                                                                95050

                                                                               

                                                                              
                                                                                or
                                                                                  to
                                                                                  such
                                                                                  other
                                                                                  address
                                                                                  as
                                                                                  may
                                                                                  have
                                                                                  been
                                                                                  furnished
                                                                                  to
                                                                                  Agent
                                                                                  by
                                                                                  the
                                                                                  Corporation,
                                                                                  or
                                                                                  to
                                                                                  such
                                                                                  other
                                                                                  address
                                                                                  as
                                                                                  Agent
                                                                                  may
                                                                                  direct
                                                                                  in
                                                                                  writing
                                                                                  the
                                                                                  Corporation
                                                                                  to
                                                                                  use.

                                                                                 

                                                                                
                                                                                  
                                                                                    
                                                                                    

                                                                                  

                                                                                  
                                                                                    7

                                                                                    
                                                                                      

                                                                                    

                                                                                  

                                                                                  
                                                                                    
                                                                                    

                                                                                  

                                                                                

                                                                                In
                                                                                  Witness
                                                                                  Whereof,
                                                                                  the
                                                                                  parties
                                                                                  hereto
                                                                                  have
                                                                                  executed
                                                                                  this
                                                                                  Agreement
                                                                                  on
                                                                                  and
                                                                                  as
                                                                                  of
                                                                                  the
                                                                                  day
                                                                                  and
                                                                                  year
                                                                                  first
                                                                                  above
                                                                                  written.

                                                                                
                                                                                  NVIDIA
                                                                                    Corporation

                                                                                  
                                                                                     

                                                                                    By:________________________________    

                                                                                    
                                                                                       

                                                                                      Title:_______________________________     

                                                                                      
                                                                                        
                                                                                           

                                                                                          AGENT

                                                                                          
                                                                                             

                                                                                            ___________________________________

                                                                                            (Signature)

                                                                                            
                                                                                              Print
                                                                                                Name
                                                                                                and
                                                                                                Address:

                                                                                               

                                                                                              ___________________________________

                                                                                              
                                                                                                 

                                                                                                c/o
                                                                                                  NVIDIA
                                                                                                  Corporation

                                                                                                2701
                                                                                                  San
                                                                                                  Tomas
                                                                                                  Expressway

                                                                                                Santa
                                                                                                  Clara,
                                                                                                  California
                                                                                                  95050

                                                                                              

                                                                                            

                                                                                          

                                                                                        

                                                                                      

                                                                                    

                                                                                  

                                                                                

                                                                              

                                                                            

                                                                          

                                                                        

                                                                      

                                                                    

                                                                  

                                                                

                                                              

                                                            

                                                          

                                                        

                                                      

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00098-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00098-of-00352.parquet"}]]