0000008328-12-000041 Sample Contracts

AMENDED 2012 MANAGEMENT AGREEMENT
Management Agreement • June 1st, 2012 • Applied Minerals, Inc. • Gold and silver ores • New York

This amended 2012 Management Agreement (the “Amended 2012 Agreement”) is entered into as of __, 2012 by and between Applied Minerals, Inc. (the “Company”) and Material Advisors LLC (“Manager”).

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