THIS EMPLOYMENT AGREEMENT (this "Agreement"), dated as of June 1st, 2021, is between MINERA LUZ DEL SOL S DE R.L., a Mexican corporation (the “Company”) wholly owned by Gatos Silver Inc. (the “Parent Company”), (together the “Companies”) and DALE ANDRES (the "Executive" and together with the Company, the "Parties").
The Parties wish to enter into the arrangements set forth herein with respect to the terms and conditions of the Executive's employment with the Company.
NOW, THEREFORE, in consideration of the promises and covenants contained herein, the Parties agree as follows:
1.Employment and Term. The Company agrees to, and does hereby, employ the Executive, and the Executive agrees to, and does hereby accept, such employment, upon the terms and subject to the conditions set forth in this Agreement. The Executive's employment will begin on June 1st, 2021 (the "Start Date") subject to the processing of any necessary work permits and visas. If for any reason or delay in the processing of the work permits and visas the Employment may not commence on the Start Date, the Executive shall still be entitled to all of the rights and subject to all obligations hereunder as from the Start Date, including but not limited to the performance of his duties and payment of his compensation; once the necessary work permits and visas are issued, Executive’s tenure with the Company shall be deemed to have commenced on the Start Date. The employment hereunder is at will, which means that the Executive or the Company may terminate the Executive's employment at any time for any reason, or for no reason, with or without cause (the "Term"). If the Company terminates this Agreement and the Executive's employment, the Company shall provide the Executive with notice and reason for the termination within ten (10) calendar days of the effective date of such termination.
(a)During the Term, the Company shall employ the Executive as Chief Executive Officer (General Manager/Gerente General in accordance with applicable law provisions) of Minera Luz Del Sol and President of its Parent Company, Gatos Silver, Inc. The Executive shall perform the duties and have the responsibilities customarily associated these positions, which shall include, without limitation, the following:
Develop high quality business strategies and plans ensuring their alignment with short-term and long-term growth and revenue objectives of the Companies;
Lead and motivate the staff and all employees of the Companies, to advance employee engagement and develop a high performing managerial team;