AMENDMENT TO VOTING TRUST AGREEMENT, dated as of March 30, 2001,
between XXXXXX XXXXXX (hereinafter the "Trustee"), with an address c/o Rosenman
& Colin LLP, 000 Xxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000-0000, Attn.: Xxxxxxx
Xxxxxxx, Esq., as Trustee, and ELECTRUM LLC (hereinafter the "Beneficiary"), a
limited liability company incorporated and existing under the laws of the Cayman
Islands, with an address c/o Caledonian Bank & Trust Ltd., Caledonian House,
Xxxx Street, Georgetown, Grand Cayman, Cayman Islands, Attn.: Xxxxx Xxxxxxxx.
WITNESSETH:
WHEREAS, the Trustee and the Beneficiary are parties to that certain
Voting Trust Agreement (the "Voting Trust Agreement"), dated as of March 31,
2000, with respect to the common shares, no par value, of Trend Mining Company,
a Montana corporation; and
WHEREAS, the parties hereto wish to amend Section 6 of the Voting Trust
Agreement.
NOW, THEREFORE, the parties hereto agree as follows:
A. TERM OF AGREEMENT. Section 6 of the Voting Trust Agreement is hereby
amended to read as follows:
"6. TERM OF AGREEMENT. The initial term of this Agreement shall
commence as of the date hereof and shall continue until March 31, 2002
(the "Initial Term"). Upon expiration of the Initial Term, this
Agreement will automatically renew for additional, successive one year
periods (each a "Successive Term" and, together with the Initial Term,
the "Term"), unless either the Trustee or the Beneficiary shall give
written notice to the other, at least 90 days prior to the expiration
of the Initial Term or the then current Successive Term, that the Term
shall not renew. Notwithstanding the foregoing, the Term shall
terminate not later than March 31, 2010."
B. REAFFIRMATION. Except as hereby expressly amended, the Voting Trust
Agreement is in all respects ratified and confirmed and all the terms,
provisions and conditions thereof shall be and remain in full force and effect.
C. COUNTERPARTS. This Amendment may be executed in any number of
counterparts, each of which shall be an original; but such counterparts shall
together constitute but one and the same instrument.
IN WITNESS WHEREOF, the Trustee and the Beneficiary have executed
this Amendment as of the date set forth above.
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Xxxxxx Xxxxxx, as Trustee
ELECTRUM LLC
By
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Xxxxx Xxxxxxxx
President
