Document:

Agreement

 Exhibit 10.1 
 EXECUTION COPY 
 AGREEMENT 

This Agreement, dated November 14, 2011 (this “Agreement”), is by and among the persons and entities listed on Schedule A
(collectively, the “Icahn Group”, and individually a “member” of the Icahn Group) and Navistar International Corporation (the “Company”). In consideration of and reliance upon the mutual covenants and agreements
contained herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 
 1. Declassification of Board. The Company agrees that it will hold its 2012 annual meeting of stockholders (the “2012 Annual Meeting”) not later than March 31, 2012. In connection
with the 2012 Annual Meeting, the Company agrees to and shall: (i) submit a resolution (in a form reasonably acceptable to the Icahn Group) to its stockholders at the 2012 Annual Meeting to amend the Company’s restated certificate of
incorporation, as amended, to declassify the Company’s board of directors (the “Board”) and provide for the annual election of all directors (the “Declassification Proposal”) and (ii) if the Declassification Proposal is
approved by the stockholders, amend such restated certificate of incorporation effective prior to the vote provided for in the following sentence to reflect the approval of such Declassification Proposal. If the Declassification Proposal is approved
by the Company’s stockholders at the 2012 Annual Meeting, then the first of such annual elections shall take place at the 2012 Annual Meeting, at which directors shall be elected for a one-year term, and at all subsequent annual meetings,
directors will be elected to a one-year term. The Company agrees that if the Declassification Proposal is approved by the Company’s stockholders at the 2012 Annual Meeting, then at least six (6) directorships will be vacant to be filled at
the 2013 Annual Meeting (as defined below) and the Board will be composed of not more than a total of eleven (11) directorships. The Company agrees that its 2013 Annual Meeting will be held no later than March 31, 2013. The Company shall
include the Declassification Proposal in its notice of meeting and its proxy statement for the 2012 Annual Meeting and shall recommend to stockholders that they approve and adopt the Declassification Proposal. 

2. 2012 Annual Meeting and Other Matters. 
 (a) So long as the Company has complied and is complying with its obligations set forth in this Agreement, from and after the date hereof, no member of the Icahn Group shall, directly or indirectly, and
each member of the Icahn Group shall cause each Affiliate (as such term is defined below) of any such members (such Affiliates, collectively and individually, the “Icahn Affiliates”) not to, directly or indirectly, (i) solicit proxies
or written consents of stockholders, or conduct any other type of referendum (binding or non-binding) with respect to the Voting Securities (as defined below), or from the holders of the Voting Securities, any time prior to or at the 2012 Annual
Meeting or become a “participant” (as such term is defined in Instruction 3 to Item 4 of Schedule 14A promulgated under the Securities Exchange 

  
 1 

 
Act of 1934, as amended (the “Exchange Act”)) in or assist any third party in any “solicitation” of any proxy, consent or other authority (as such terms are defined under the
Exchange Act) to vote any shares of the Voting Securities for use at any time prior to or at the 2012 Annual Meeting, (ii) encourage, advise or influence any other person or assist any third party in so encouraging, assisting or influencing any
person with respect to the giving or withholding of any proxy, consent or other authority to vote or in conducting any other type of referendum at any time prior to or at the 2012 Annual Meeting, (iii) form or join in a partnership, limited
partnership, syndicate or other group, including without limitation a group as defined under Section 13(d) of the Exchange Act, with respect to the Voting Securities, or otherwise support or participate in any effort by a third party with
respect to the matters set forth in clause (i) above any time prior to or at the 2012 Annual Meeting, (iv) present any proposal for consideration for action by stockholders or propose any nominee for election to the Board at any time prior
to or at the 2012 Annual Meeting, (v) grant any proxy, consent or other authority to vote with respect to any matters at any time prior to or at the 2012 Annual Meeting (other than to the named proxies included in the Company’s proxy card
for the 2012 Annual Meeting) or deposit any of the Voting Securities held by the Icahn Group or the Icahn Affiliates in a voting trust or subject them to a voting agreement or other arrangement of similar effect with respect to the 2012 Annual
Meeting except as provided in Section 2(b) below, (vi) make any request under Section 220 of the Delaware General Corporation Law at any time prior to the 2012 Annual Meeting or (vii) at any time prior to the 2012 Annual Meeting,
unless the Company makes, announces or proposes a material change in its business or strategies, make, or cause to be made, any statement or announcement that constitutes an ad hominem attack on, or otherwise disparages or is critical of, the
Company, its officers or its directors. The Icahn Group’s obligations set forth in this Section 2(a) shall be null and void and shall terminate immediately if the Company announces any proposals to be considered by stockholders at the 2012
Annual Meeting, other than the Annual Meeting Proposals (as defined below), or if the 2012 Annual Meeting is not held on or prior to March 31, 2012. As of the date hereof, the only proposals known to the Company to be considered by stockholders
at the 2012 Annual Meeting are the Annual Meeting Proposals. As used in this Agreement: (A) the term “Affiliate” shall have the meaning set forth in Rule 12b-2 promulgated by the SEC under the Exchange Act, (B) the terms
“person” or “persons” shall mean any individual, corporation (including not-for-profit), general or limited partnership, limited liability or unlimited liability company, joint venture, estate, trust, association, organization or
other entity of any kind or nature and (C) the term “Voting Securities” shall mean the common stock, par value $0.10 per share, of the Company (the “Common Stock”) and any other securities of the Company entitled to vote in
the election of directors, or securities convertible into, or exercisable or exchangeable for Common Stock or other securities, whether or not subject to the passage of time or other contingencies. 

(b) So long as the Company has complied and is complying with its obligations set forth in this Agreement, each member of
the Icahn Group shall (1) cause, in the case of all Voting Securities owned of record, and (2) instruct the record owner, in the case of all shares of Voting Securities beneficially owned but not owned of record, directly or indirectly, by
it, or by any Icahn Affiliate, as of the record date for the 2012 Annual Meeting, in each case that are entitled to vote at the 2012 Annual Meeting, to be present for quorum purposes and to be voted, at the 2012 Annual Meeting or at any adjournments
or postponements thereof (but not later than March 31, 2012), (i) for up to three (3) directors nominated by the Board for election at 

  
 2 

 
the 2012 Annual Meeting and (ii) shall vote (or cause to be voted) in accordance with the recommendation of the Board for (x) the ratification of the appointment of the Company’s
independent public accounting firm and (y) the Declassification Proposal; the Icahn Group may vote at its discretion with respect to the Company’s say-on-pay proposal (clauses (i) and (ii) collectively, the “Annual Meeting
Proposals”). 
 (c) From the date hereof through the date of the Company’s 2013 annual meeting of
stockholders (the “2013 Annual Meeting”): 
 (i) So long as the Company has complied and is complying
with its obligations set forth in this Agreement, each member of the Icahn Group agrees (and agrees to cause each Icahn Affiliate to comply with the provisions of this Section 2(c)(i)) that, prior to acquiring (in the aggregate with all other
members of the Icahn Group and all Icahn Affiliates) direct or indirect Beneficial Ownership of Voting Securities that would exceed 14.99% of the then total outstanding Voting Securities (the “Ownership Limit”), the Icahn Group shall
provide at least ten (10) days’ prior written notice to the Company of its bona fide intention to acquire, or actual acquisition of, Voting Securities in excess of the Ownership Limit. For purposes of this Section 2(c), acquisition of
“Beneficial Ownership of Voting Securities” means acquisition of: (i) Voting Securities, (ii) rights or options to own or acquire any Voting Securities (whether such right or option is exercisable immediately or only after the
passage of time or upon the satisfaction of one or more conditions (whether or not within the control of such person), compliance with regulatory requirements or otherwise) and (iii) any other economic exposure to Voting Securities, including,
without limitation, through any derivative transaction that gives any such person or any of such person’s Affiliates the economic equivalent of ownership of an amount of Voting Securities due to the fact that the value of the derivative is
explicitly determined by reference to the price or value of Voting Securities, or which provides such person or any of such person’s Affiliates an opportunity, directly or indirectly, to profit, or to share in any profit, derived from any
change in the value of Voting Securities, in any case without regard to whether (x) such derivative conveys any voting rights in Voting Securities to such person or any of such person’s Affiliates, (y) the derivative is required to
be, or capable of being, settled through delivery of Voting Securities, or (z) such person or any of such person’s Affiliates may have entered into other transactions that hedge the economic effect of such Beneficial Ownership of Voting
Securities; provided, however, that a person shall not acquire Beneficial Ownership of Voting Securities as a result of a revocable proxy given to such person in response to a public proxy or consent solicitation; and 

(ii) The Company shall not adopt any stockholder rights agreement, commonly known as a “poison pill”, or other
device, that restricts or limits, or has the effect of restricting or limiting (including, without limitation, as the result of dilution), the Beneficial Ownership of Voting Securities by the Icahn Group (together with the Icahn Affiliates) at or
below the Ownership Limit. 
 (d) From and after the date hereof until the completion of the 2013 Annual Meeting
and the installation of the Board elected at such meeting, the Company agrees that it 

  
 3 

 
shall take no action and no action shall be taken to increase the size of the Board above eleven (11) directors, each having one vote on all matters. 

(e) If the Declassification Proposal is not approved by the requisite number of stockholders at the 2012 Annual Meeting
held on or prior to March 31, 2012, then the obligations of the Company and the Icahn Group set forth in this Section 2 shall be null and void and of no further force or effect. 

3. Public Announcement. The Company shall announce this Agreement and the material terms hereof by means of a press release in the
form attached hereto as Exhibit A (the “Press Release”) as soon as practicable on or after the date hereof. Neither the Company nor the Icahn Group shall make any public announcement or statement that is inconsistent with or contrary to
the statements made in the Press Release, except as required by law or the rules of any stock exchange or with the prior written consent of the other party. The Company acknowledges that the Icahn Group will comply with its obligations under
Section 13(d) of the Exchange Act and intends to file this Agreement as an exhibit to its Schedule 13D. 
 4.
Representations and Warranties of All Parties. Each of the parties represents and warrants to the other party that: 
 (a) Such party has all requisite company power and authority to execute and deliver this Agreement and to perform its obligations hereunder; 

(b) This Agreement has been duly and validly authorized, executed and delivered by it and is a valid and binding
obligation of such party, enforceable against such party in accordance with its terms; 
 (c) This Agreement will
not result in a violation of any terms or conditions of any agreements to which such person is a party or by which such party may otherwise be bound or of any law, rule, license, regulation, judgment, order or decree governing or affecting such
party. 
 5. Representations and Warranties of Icahn Group. Each member of the Icahn Group jointly represents and
warrants that, as of the date of this Agreement, (i) they collectively beneficially own and/or have an economic exposure to, including without limitation, through derivative transactions described in Section 2(c) above, an aggregate of
7,251,426 shares of Common Stock and (ii) except for such ownership or exposure, no member of the Icahn Group, individually or in the aggregate with all other Icahn Members and Icahn Affiliates, has any other direct or indirect beneficial
ownership of, and/or economic exposure to, any Voting Securities (or rights or options to own or acquire any Voting Securities (as described in Section 2(c) above), including, without limitation, through any derivative transaction described in
Section 2(c) above. 

  
 4 

 6. Representation and Warranties of the Company. As of the date of this Agreement,
the Company represents and warrants to the Icahn Group that the Board is composed of ten (10) directors and there are no vacancies. 
 7. Miscellaneous. The parties hereto recognize and agree that if for any reason any of the provisions of this Agreement are not performed in accordance with their specific terms or are otherwise
breached, immediate and irreparable harm or injury would be caused for which money damages would not be an adequate remedy. Accordingly, each party agrees that in addition to other remedies the other party shall be entitled to at law or equity, the
other party shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement exclusively in the Court of Chancery or other federal or state courts of the
State of Delaware. In the event that any action shall be brought in equity to enforce the provisions of this Agreement, no party shall allege, and each party hereby waives the defense, that there is an adequate remedy at law. Furthermore, each of
the parties hereto (a) consents to submit itself to the personal jurisdiction of the Court of Chancery or other federal or state courts of the State of Delaware in the event any dispute arises out of this Agreement or the transactions
contemplated by this Agreement, (b) agrees that it shall not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court, (c) agrees that it shall not bring any action relating to this
Agreement or the transactions contemplated by this Agreement in any court other than the Court of Chancery or other federal or state courts of the State of Delaware, and each of the parties irrevocably waives the right to trial by jury,
(d) agrees to waive any bonding requirement under any applicable law, in the case any other party seeks to enforce the terms by way of equitable relief and (e) each of the parties irrevocably consents to service of process by a reputable
overnight mail delivery service, signature requested, to the address of such parties’ principal place of business or as otherwise provided by applicable law. THIS AGREEMENT SHALL BE GOVERNED IN ALL RESPECTS, INCLUDING WITHOUT LIMITATION
VALIDITY, INTERPRETATION AND EFFECT, BY THE LAWS OF THE STATE OF DELAWARE APPLICABLE TO CONTRACTS EXECUTED AND TO BE PERFORMED WHOLLY WITHIN SUCH STATE WITHOUT GIVING EFFECT TO THE CHOICE OF LAW PRINCIPLES OF SUCH STATE. 

8. No Waiver. Any waiver by any party of a breach of any provision of this Agreement shall not operate as or be construed to be a
waiver of any other breach of such provision or of any breach of any other provision of this Agreement. The failure of a party to insist upon strict adherence to any term of this Agreement on one or more occasions shall not be considered a waiver or
deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this Agreement. 

9. Entire Agreement. This Agreement contains the entire understanding of the parties with respect to the subject matter hereof and
may be amended only by an agreement in writing executed by the parties hereto. 
 10. Notices. All notices, consents,
requests, instructions, approvals and other communications provided for herein and all legal process in regard hereto shall be in writing and 

  
 5 

 
shall be deemed validly given, made or served, if (a) given by telecopy and email, when such telecopy and email is transmitted to the telecopy number set forth below and sent to the email
address set forth below and the appropriate confirmation is received or (b) if given by any other means, when actually received during normal business hours at the address specified in this subsection: 

 

			
	 if to the Company:
	 	 Navistar International Corporation

		 	 4201 Winfield Road

		 	 Warrenville, Illinois 60555

		 	 Attention: Curt Kramer

		 	 Facsimile: (630) 753-3186

		
		 	With a copy to (which shall not constitute notice):
		
		 	 Skadden, Arps, Slate, Meagher & Flom LLP

		 	 155 N. Wacker Drive

		 	 Suite 2700

		 	 Chicago, Illinois 60606

		 	 Facsimile: (312) 407-0411

		 	 Attention:   Charles W. Mulaney, Jr.

		 	 Richard C. Witzel, Jr.

		
	 if to the Icahn Group:
	 	 Icahn Associates Corp.

		 	 767 Fifth Avenue,
47th Floor

		 	 New York, New York 10153

		 	 Attention: Keith Cozza

		 	 Facsimile: (212) 688-1158

		
		 	With a copy to (which shall not constitute notice):
		
		 	 Icahn Associates Corp.

		 	 767 Fifth Avenue,
47th Floor

		 	 New York, New York 10153

		 	 Attention: Keith Schaitkin

		 	 Facsimile: (212) 688-1158

 11. Severability. If at any time subsequent to the date hereof, any provision of this Agreement
shall be held by any court of competent jurisdiction to be illegal, void or unenforceable, such provision shall be of no force and effect, but the illegality or unenforceability of such provision shall have no effect upon the legality or
enforceability of any other provision of this Agreement. 
 12. Counterparts. This Agreement may be executed in two or
more counterparts which together shall constitute a single agreement. 

  
 6 

 13. Successors and Assigns. This Agreement shall not be assignable by any of the
parties to this Agreement. This Agreement, however, shall be binding on successors of the parties hereto. 
 14. No Third
Party Beneficiaries. This Agreement is solely for the benefit of the parties hereto and is not enforceable by any other persons. 
 15. Fees and Expenses. Neither the Company, on the one hand, nor the Icahn Group, on the other hand, will be responsible for any fees or expenses of the other in connection with this Agreement.

 16. Interpretation and Construction. Each of the parties hereto acknowledges that it has been represented by counsel
of its choice throughout all negotiations that have preceded the execution of this Agreement, and that it has executed the same with the advice of said independent counsel. Each party and its counsel cooperated and participated in the drafting and
preparation of this Agreement, and any and all drafts relating thereto exchanged among the parties shall be deemed the work product of all of the parties and may not be construed against any party by reason of its drafting or preparation.
Accordingly, any rule of law or any legal decision that would require interpretation of any ambiguities in this Agreement against any party that drafted or prepared it is of no application and is hereby expressly waived by each of the parties
hereto, and any controversy over interpretations of this Agreement shall be decided without regards to events of drafting or preparation. The section headings contained in this Agreement are for reference purposes only and shall not affect in any
way the meaning or interpretation of this Agreement. 
 [Signature Page Follows] 

  
 7 

 IN WITNESS WHEREOF, each of the parties hereto has executed this Agreement, or caused the
same to be executed by its duly authorized representative as of the date first above written. 
  

					
	NAVISTAR INTERNATIONAL CORPORATION
			
		 	By:	 	/s/ Daniel C. Ustian
		 	Name:	 	Daniel C. Ustian
		 	Title:	 	Chairman, President and Chief Executive Officer 

 [Signature Page to Settlement Agreement] 

 
					
	ICAHN PARTNERS MASTER FUND LP
	ICAHN PARTNERS MASTER FUND II LP
	ICAHN PARTNERS MASTER FUND III LP
	ICAHN OFFSHORE LP
	ICAHN PARTNERS LP
	ICAHN ONSHORE LP
	BECKTON CORP.
	HOPPER INVESTMENTS LLC
	BARBERRY CORP.
	HIGH RIVER LIMITED PARTNERSHIP
		 	By: Hopper Investments LLC, general partner
			
		 	By:	 	/s/ Edward E. Mattner 
		 	Name:	 	Edward E. Mattner 
		 	Title:	 	Authorized Signatory 

  

					
	ICAHN CAPITAL LP
		 	By: IPH GP LLC, its general partner 
		 	By: Icahn Enterprises Holdings L.P., its sole member
		 	By: Icahn Enterprises G.P. Inc., its general partner
	IPH GP LLC
		 	By: Icahn Enterprises Holdings L.P., its sole member
		 	By: Icahn Enterprises G.P. Inc., its general partner
	ICAHN ENTERPRISES HOLDINGS L.P.
		 	By: Icahn Enterprises G.P. Inc., its general partner
	ICAHN ENTERPRISES G.P. INC.
			
		 	By:	 	/s/ Dominick Ragone 
		 	Name:	 	Dominick Ragone 
		 	Title:	 	Chief Financial Officer 
		
		 	/s/ Carl C. Icahn 
		 	Carl C. Icahn

 [Signature Page to Settlement Agreement] 

 SCHEDULE A 

 
  
 Barberry Corp. 
 Beckton Corp. 
 Carl C. Icahn 
 Icahn Capital LP 
 Icahn Enterprises Holdings L.P. 
 Icahn Enterprises G.P. Inc. 

Icahn Offshore LP 
 Icahn Onshore LP 

Icahn Partners LP 
 Icahn Partners Master Fund LP

 Icahn Partners Master Fund II LP 

Icahn Partners Master Fund III LP 
 IPH GP LLC

 High River Limited Partnership 

Hopper Investments LLC 

 EXHIBIT A 
 [PRESS RELEASE] 
 NAVISTAR ANNOUNCES AGREEMENT WITH INVESTOR CARL ICAHN 

 

	 	•	 	 Company to destagger board to provide for the annual election of directors 

 

	 	•	 	 Majority of Board to be elected to one-year terms at the 2013 Annual Meeting 

 

	 	•	 	 Icahn will not seek board representation and will vote for company nominees in 2012 

WARRENVILLE, IL – November 15, 2011 – Navistar International Corporation (NYSE: NAV) today announced that it
entered into an agreement with investor Carl Icahn and certain of his affiliates to submit a proposal to its shareholders at its 2012 Annual Meeting of Shareholders to destagger the Board to elect directors on an annual basis. With this agreement,
Mr. Icahn agreed not to seek Board representation at the Company’s 2012 Annual Meeting and agreed to vote in favor of the Company’s nominees for election at the 2012 Annual Meeting 

“Navistar’s Board and management team are committed to acting in the best interests of the Company and all its shareholders,
and we believe that the annual election of our directors, without a staggered board, further strengthens our corporate governance practices,” said Dan Ustian, Navistar’s chairman, president and chief executive officer. “We also are
pleased to have reached an agreement with Mr. Icahn that includes his support for our Board nominees for election at our upcoming shareholders meeting.” 
 If approved by the shareholders, Navistar will begin the annual election process starting with the class of three directors up for election at the 2012 Annual Meeting of Shareholders. Instead of
three-year terms, each nominee would be elected to a one-year term at the 2012 Annual Meeting and subsequent annual meetings with a majority of the board being elected to a one-year term at the 2013 Annual Meeting, and all nominees being elected on
an annualized cycle as of the 2014 Annual Meeting of Shareholders. 
 “We have demonstrated a proven ability to deliver
solid earnings, and our future growth prospects are strong in large part due to the strategy and vision of current management and the Board,” Ustian said. “We remain intensely focused on delivering value for all shareholders by executing
on our strategy, including building a differentiated product offering, enhancing our already strong North American business, growing our global truck and engine businesses, sustaining our global military business, and expanding our parts
business.” 
 About Navistar: 
 Navistar International Corporation (NYSE: NAV) is a holding company whose subsidiaries and affiliates produce International® brand commercial and military trucks,
MaxxForce® brand diesel engines, IC BusTM brand school and commercial buses, Monaco RV brands of
recreational vehicles, and Workhorse® brand chassis for motor homes and step vans. It also is a private-label
designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. The company also provides truck and diesel engine 

 
service parts. Another affiliate offers financing services. Additional information is available at www.Navistar.com/newsroom. 
 Cautionary Statement Regarding Forward-Looking Statements  
 Information provided and
statements contained in this report that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended,
and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements only speak as of the date of this report and the Company assumes no obligation to update the information included in this report. Such forward-looking
statements include information concerning our possible or assumed future results of operations, including descriptions of our business strategy. These statements often include words such as “believe,” “expect,”
“anticipate,” “intend,” “plan,” “estimate,” or similar expressions. These statements are not guarantees of performance or results and they involve risks, uncertainties, and assumptions. For a further
description of these factors, see Item 1A, Risk Factors of our Form 10-K for the fiscal year ended October 31, 2010, which was filed on December 21, 2010 , and Part II, Item 1A, Risk Factors, included within our Form 10-Q for the
period ended July 31, 2011, which was filed on September 7, 2011. Although we believe that these forward-looking statements are based on reasonable assumptions, there are many factors that could affect our actual financial results or
results of operations and could cause actual results to differ materially from those in the forward-looking statements. All future written and oral forward-looking statements by us or persons acting on our behalf are expressly qualified in their
entirety by the cautionary statements contained or referred to above. Except for our ongoing obligations to disclose material information as required by the federal securities laws, we do not have any obligations or intention to release publicly any
revisions to any forward-looking statements to reflect events or circumstances in the future or to reflect the occurrence of unanticipated events.Enertopia Corp.: Exhibit 10.1 - Filed by newsfilecorp.com

Exhibit 10.1

INVESTOR RELATIONS AGREEMENT

THIS AGREEMENT is made as of November 15, 2011 

BETWEEN 

TRIDENT FINANCIAL CORP., a
company incorporated pursuant to the laws of the Province of British Columbia;
with an office at Suite 240 - 515 West Pender Street, Vancouver, BC. V6B 6H5

(the “Consultant”)

AND: 

ENERTOPIA CORPORATION. a
company incorporated pursuant to the laws of the Province of British Columbia;
with an office at 950-1130 West Pender Street, Vancouver, BC, V6E 4A4 

(the “Company”)

(the “Parties”)

WHEREAS: 

A. The Company is a reporting issuer, the securities of which
are listed for trading on the Canadian National Stock Exchange (the
“Exchange”);

B. The Company carries on the business of a junior natural
resource company focused on acquisition and exploration in The United States of
America;

C. The Consultant carries on the business of investor relations
including assisting public companies in the promotion of corporate
activities;

D. The Company wishes to engage the Consultant and the
Consultant has agreed to be engaged to provide communications services to the
Company in accordance with the terms of this agreement (the
“Agreement”);

1

NOW THEREFORE THIS AGREEMENT WITNESSES that in
consideration of the mutual covenants and agreements herein contained, the
receipt and sufficiency of which is hereby acknowledged by each of the parties
hereto, it is hereby agreed as follows:

1. Engagement of the Consultant

1.1 Engagement 

The Company hereby engages the Consultant to provide the
services set out in Section 2.1 herein (the “Services”) to the Company,
and the Consultant has agreed to provide the Services to the Company, subject to
the terms and conditions described in this Agreement.

2. Services of the Consultant

2.1 General

The Consultant shall provide the following Services:

(a) meet and communicate with corporate
analysts, institutional and professional investors, retail clients and
stockbrokers for the purposes of encouraging or promoting investment in the
Company;

(b) advise the Company with respect to
its public communication materials, including the Company’s website and
presentations developed for industry meetings, conferences and tradeshows;

(c) introduce the Company to and liaise
on behalf of the Company with writers for and publishers of relevant subscriber
based publications, including newspapers, magazines, business publications and
financial publications;

(d) assist the Company with all work
necessary to prepare for meetings and presentations with investors; and

(e) such other services as the Company
and the Consultant may from time to time agree upon. 

2.2 Independent Contractor 

The Parties intend that the relationship between them created
under this Agreement is that of an independent contractor only. It is agreed
that the Consultant is not an employee of, partner or joint venture with the
Company. The Consultant shall retain control over the manner and means by which
it provides the Services, subject to the Company’s specification of the results
to be achieved.

2.3 Non-Exclusivity 

The Consultant shall devote such of its time and effort as may
be necessary to discharge the Consultant’s duties as outlined hereunder. The
parties agree that the Consultant’s engagement to provide the Services is
non-exclusive. The Consultant is free to provide similar services to other
individuals, firms, companies and businesses, subject to the terms and
conditions of this Agreement.

2

2.4 Authority of the Consultant

The Company hereby authorizes the Consultant, subject to the
other provisions of this Agreement, to do all acts and things as the Consultant
may in its discretion deem necessary or desirable to enable the Consultant to
provide the Services. Notwithstanding the foregoing, the Consultant has no
authority to enter into contracts or agreements on behalf of the Company or to
bind the Company in any manner whatsoever.

2.4 CNSX Documentation 

The Consultant represents and represents to the Company that
all documentation required to be filed by the Consultant with the CNSX Exchange
in connection with its provision of the services hereunder, and specifically all
Personal Information Forms or related documentation, has been so filed and is up
to date as of the date of this Agreement.

3. Company’s Agreement with the
Consultant

3.1 Fees

In consideration of the provision of the Services, the Company
shall compensate the Consultant in the following manner:

(a) During the period from the
Effective Date November 15th, 2011, pay to the Consultant a monthly fee of
$6000.00 + GST/HST plus approved expenses, (for greater certainty, the initial
monthly payment shall be due and payable upon Effective Date November 15th, 2011
and each subsequent monthly payment shall be due on the fifteenth day of the
month for which such monthly payment is provided); 

(b) Grant the Consultant
incentive stock option to purchase up to 40,000 common shares of the Company
vesting according to the Company’s stock option plan, with an exercise price in
the context of the market and subject to approval of the Company’s new option
plan, and subject to CNSX regulations; 

3

3.2 Entire Agreement

This Agreement constitutes the entire agreement between the
Parties hereto pertaining to the subject matter hereof and supersedes and
replaces all prior and contemporaneous commitments, obligations, agreements,
understandings, negotiations and discussions, whether oral or written, of the
Parties, and there are no warranties, representations or other agreements
between the Parties in connection with the subject matter hereof.

3.3 Receipt of Consents and Approvals 

The commitments, obligations and payments contained in this
Agreement are contingent upon the Corporation having received the necessary
consents and approvals from the Exchange in respect of the Agreement and such
consents and approvals must be received prior to the commencement of the
Services by the Consultant. Both Parties agree to promptly execute and deliver
all such documentation and other instruments as the Exchange may require. In the
event that any such consents or approvals are not received by the Corporation,
this Agreement and all commitments, obligations and understandings between the
Company and the Consultant are hereby terminated.

3.4 Access to Company Information

The Company shall provide the Consultant with information about
the Company, such information including: financial statements, technical
reports, annual information forms, news releases, material change reports,
offering documents, filing statements, promotional information and other similar
relevant documentation as may be reasonably necessary to complete and perform
the Services (collectively referred to as the “Information”) as the
Consultant and the Company shall deem appropriate.

4. Commencement and Term of Agreement

4.1 Term

The term of this Agreement (the “Term”) shall commence
on November 15th, 2011 and shall end on February 15th, 2012 (the “Expiry
Date”), subject to extension or earlier termination as provided herein.

4.2 Extension of Term 

The Parties may at any time and from time to time extend the
Term of this Agreement by agreement in writing by the parties hereto. The
agreement to extend the Term shall specifically deal with:

(a) the length of time for which the
Term shall be extended;

(b) any compensation that shall be paid
to the Consultant during the extended Term; and

(c) any other terms and conditions of
this Agreement that the Parties wish to amend.

4

4.3 Termination

This Agreement shall terminate automatically upon the expiry of
the Term, including any extensions thereof. This Agreement may be terminated
prior to the expiry of the Term:

(a) upon the occurrence of any default
by the Consultant, by the Company giving written notice to the Consultant
specifying the nature of such default and upon the failure of the Consultant to
fully cure or remedy such default within 30 days after the date of the written
notice. For the purposes of this Agreement, a default by the Consultant shall be
defined as the occurrence of any one or more of the following:

(i) the Consultant fails to perform
any of the Services in the manner or within the time required herein or commits
a material breach of a provision of this Agreement; or

(ii) the Company, acting reasonably,
determines that the Consultant is acting in a manner detrimental to the Company
or has violated the obligation of the Consultant herein, to maintain the
confidentiality of any information relating to the Company, or (ii) the
Consultant while providing the Services violates any law, rule, regulation or
any rule or policy of any stock exchange or trading facility upon which the
Company’s shares may be or become listed for trading;

(b) by the Consultant, 15 days after
having given notice to the Company of the failure of the Company to pay any of
the amounts provided for in Sections 3.1 above, if such amounts remain unpaid at
that time;

(c) upon the mutual agreement of both
Parties to this Agreement; or

(d) by either party at any time upon
giving the other party 30 days prior written notice.

4.4 Announcement of Agreement

The Company shall issue a press release, to be drafted by the
Company announcing this Agreement.

5. Confidentiality 

5.1 Confidentiality

Except as authorized or required to provide the Services, the
Consultant shall not disclose or reveal to any person any of the trade secrets,
secret or confidential operations, processes or dealings, or any information
concerning the organization, business, finances, transactions, technical
innovations or other affairs of the Company of which it becomes aware during the
Term. The Consultant shall keep secret all confidential information entrusted to
it and shall not use or attempt to use this information in any manner that might
injure or cause loss, either
directly or indirectly, to the Company’s business. This restriction shall continue to apply after the termination of this Agreement.

5

6. Miscellaneous  

6.1 Severability

Each provision of this Agreement is intended to be severable. If any term or provision hereof shall be determined by a court of competent jurisdiction to be illegal or invalid for any reason whatsoever, that provision shall be severed from this
Agreement and shall not affect the validity of the remainder of this Agreement.

6.2 Waiver and Consents  

No consent, approval or waiver, express or implied, by any party hereto, to or of any breach or default by another party in the performance by the other party of its obligations hereunder shall be deemed or construed to be a consent or waiver to or
of any other breach or default in the performance by such other party of the same or any other obligations of such other party. The failure of a party to declare the other party in default, irrespective of how long such failure continues, shall not
constitute a general waiver by such party of the breach or default of the other and shall not be construed to waive or limit the need for such consent or approval in any other instance.

6.3 Indemnification  

Company shall indemnify Consultant from all costs, claims and lawsuits which Consultant may be required to pay or defend arising from a material misrepresentation by Company of any information relied upon by Consultant and which Consultant, without
knowledge of such misrepresentation, provided to anyone.

6.4 Governing Law  

This Agreement and all matters arising hereunder shall be governed by, construed and enforced in accordance with the laws of the Province of British Columbia and the federal laws applicable therein and all disputes arising under this Agreement shall
be referred to the Courts of the Province of British Columbia.

6.5 Successors  

This Agreement shall ensure to the benefit of and be binding upon the Parties and their respective heirs and successors.

6

6.6 Assignment and Amendments 

This Agreement may not be assigned by a party without the prior
written consent of the other party. No amendment to this Agreement shall be
valid unless it is evidenced by written agreement executed by the Parties
hereto.

6.7 Notices 

All notices, requests and communications required or permitted
hereunder shall be in writing and shall be sufficiently given and deemed to have
been received upon personal delivery or facsimile transmission during normal
business hours of the recipient or, if mailed, upon the first to occur of actual
receipt or 48 hours after being placed in the mail, postage prepaid, registered
or certified mail, respectively addressed to the Company or the Consultant as
follows:

To the Consultant:

TRIDENT FINANCIAL CORP.

Suite 240-515 West Pender Street 
Vancouver, British
Columbia
Canada V6B 6H5

Attention: Rob Riley
Facsimile:
604-681-8669

To the Company:

ENERTOPIA
CORPORATION.
950-1130 West Pender Street
Vancouver, BC 
V6E 4A4

Name: Robert McAllister 
Title:
President 

or such other address as may be specified in writing to the
other party, but notice of a change of address shall be effective only upon the
actual receipt.

6.8 Time of the Essence 

Time is of the essence of this Agreement.

6.9 Further Assurances 

From time to time after the execution of this Agreement, the
Parties shall make, do, execute or cause or permit to be made, done or executed
all additional lawful acts, deeds, things, devices and assurances in law
whatsoever as may be required to carry out the true intention and to give full
force and effect to this Agreement.

7

7.0 Counterparts 

This Agreement may be executed in several counterparts, each of
which shall be deemed to be an original and all of which shall together
constitute one instrument. Facsimile signatures are acceptable and binding.

IN WITNESS WHEREOF this Agreement has been duly executed
by the Parties hereto effective as of the day and year first above written.

	 	   TRIDENT FINANCIAL CORP.
  
	 	  
	 	Per: /s/ Rob
      Riley                            
      
	 	      Name: Rob Riley

	 	      Title: President
  
	 	  
	 	ENERTOPIA CORPORATION. 
	 	  
	 	Per: /s/ Robert
      McAllister            
       
	 	      Name: Robert
      McAllister 
	 	      Title: President
    

8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00196-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00196-of-00352.parquet"}]]