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Termination Agreement
El
Capitan Precious Metals, Inc., a Nevada corporation (the
“Company”) and Charles C. Mottley (the
“Consultant”) entered into a Consulting Agreement
(the “Agreement”) as of October 1, 2007. The
Company and the Consultant now wish to terminate the Agreement
as follows:
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1. |
Mutual Termination .
The Company and the Consultant have mutually agreed to terminate
the Agreement.
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2. |
Termination Date .
The termination date of the Agreement shall be as of June 1,
2008.
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3. |
Consideration .
Consultant has requested and the Company has agreed that as
consideration for the termination of the Agreement the following,
which in the aggregate shall constitute full and final payment of
all amounts due to the Consultant by the Company, whether under the
Agreement or otherwise:
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a. |
The
Company shall cause 445,833 shares of its common stock, restricted
as to Regulation 144, be issued to the Consultant. The stock will
be valued at $0.5863 per share representing $261,403.54 in total;
and,
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b. |
Company
shall convey to Consultant as of June 30, 2008 the Company property
listed on Schedule A hereto as of June 30, 2008, valued in the
aggregate at $5,453.86; and,
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c. |
The
amount of $642.60 due to the Company from the Consultant shall be
applied as part of the Consideration due under this Termination
Agreement.
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4. |
Confidentiality .
The Company acknowledges that all Confidential Information it has
provided to Consultant pursuant to the Agreement has been returned
to the Company.
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(a)
Governing Law. The
laws of Nevada will govern the validity, construction, and
performance of this Termination Agreement, without regard to any
choice of law or conflict of law rules and regardless of the
location of any arbitration under this Termination
Agreement.
(b)
Construction .
Wherever possible, each provision of this Termination Agreement
will be interpreted so that it is valid under the applicable law.
If any provision of this Termination Agreement is to any extent
invalid under the applicab
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