Common use of Remuneration of Escrow Agent Clause in Contracts

Remuneration of Escrow Agent. 29.1 The Issuer shall pay the Escrow Agent reasonable remuneration for services provided by the Escrow Agent under this Agreement. 29.2 The Issuer shall reimburse the Escrow Agent for reasonable disbursements incurred by the Escrow Agent in providing services under this Agreement. THE PARTIES HAVE EXECUTED AND DELIVERED this Agreement as of the date set out above. THE COMMON SEAL OF ) COMPUTERSHARE TRUST COMPANY ) OF CANADA was hereunto affixed in the ) presence of ) ) C/S ) ) Authorized Signatory ) ) ) ) Authorized Signatory ) THE COMMON SEAL OF CANOIL ) EXPLORATION CORPORATION was ) hereunto affixed in the presence of ) ) C/S ) ) Authorized Signatory ) ) ) ) Authorized Signatory ) SIGNED, SEALED AND DELIVERED by ) ▇▇▇▇ ▇▇▇▇ in the presence of ) ) ) ) Signature ) ) ) ) Address ) ▇▇▇▇ ▇▇▇▇ ) ) ) Occupation ) THE COMPANY SEAL OF RKGCM ) HOLDINGS LTD. was hereunto affixed in the ) presence of ) ) C/S ) ) Authorized Signatory ) ) ) ) Authorized Signatory ) Name: RKGCM Holdings Ltd. Signature:/s/ ▇▇▇▇ ▇▇▇▇ Address for Notice: ▇▇▇▇ - ▇▇▇▇▇ ▇▇▇▇▇▇, Surplus Securities 15,000,000 Name: ▇▇▇▇ ▇▇▇▇ Signature:/s/ ▇▇▇▇ ▇▇▇▇ Address for Notice: ▇▇▇▇ - ▇▇▇▇▇ ▇▇▇▇▇▇, Surplus Securities 15,000,000 On date of Exchange Notice 10% 3,000,000 Date 6 months following the Exchange Notice 15% 4,500,000 Date 12 months following the Exchange Notice 15% 4,500,000 Date 18 months following the Exchange Notice 15% 4,500,000 Date 24 months following the Exchange Notice 15% 4,500,000 Date 30 months following the Exchange Notice 15% 4,500,000 Date 36 months following the Exchange Notice 15% 4,500,000 (NOTE: SEE SCHEDULE B(4) FOR CONDITIONS TO BE SATISFIED BEFORE THIS SCHEDULE B(4) BECOMES APPLICABLE). On date of Exchange Notice 0% Nil Date 6 months following the Exchange Notice 5% 1,500,000 Date 12 months following the Exchange Notice 5% 1,500,000 Date 18 months following the Exchange Notice 5% 1,500,000 Date 24 months following the Exchange Notice 5% 1,500,000 Date 30 months following the Exchange Notice 10% 3,000,000 Date 36 months following the Exchange Notice 10% 3,000,000 Date 42 months following the Exchange Notice 10% 3,000,000 Date 48 months following the Exchange Notice 10% 3,000,000 Date 54 months following the Exchange Notice 10% 3,000,000 Date 60 months following the Exchange Notice 10% 3,000,000 Date 66 months following the Exchange Notice 10% 3,000,000 Date 72 months following the Exchange Notice 10% 3,000,000 Early Release R Graduation to Tier 1 If the Issuer reasonably believes that it meets the Minimum Listing Requirements of a Tier 1 Issuer as described in Policy 2.1 B Minimum Listing Requirements, the Issuer may make application to the Exchange in accordance with Exchange Policy to be listed as a Tier 1 Issuer and shall concurrently provide notice to the Escrow Agent of such application. If a Notice is issued by the Exchange confirming final acceptance for listing of the Issuer on Tier 1, to Issuer shall forthwith issue a news release disclosing that it has been accepted for graduation to Tier 1, disclosing the number of Securities to be released, the dates of release and shall promptly provide such news release, together with a copy of the Exchange Notice, to the Escrow Agent and the foregoing Schedule shall be deemed to be replaced with the Schedule B(3). In the event the Schedule B(3) becomes effective, the Escrow Agent within 10 days of the issuance of a Notice by the Exchange confirming final acceptance for listing on Tier 1, shall release from escrow any Securities which pursuant to the Schedule B(3) would have been releasable at a date prior to the Notice of the Exchange confirming final acceptance for listing on Tier 1.