0001193125-09-135017 Sample Contracts

FLOATING RATE SECURED DEBENTURE, DUE SEPTEMBER 30, 2011 OF POLY MET MINING, INC.
Polymet Mining Corp • June 22nd, 2009 • Miscellaneous metal ores • New York

NOTICE IS HEREBY GIVEN that, pursuant to the terms of a floating rate secured debenture issued on June , 2009 (hereinafter referred to as the “Debenture”) issued by Poly Met Mining, Inc. (the “Corporation”), the Corporation intends to redeem and will redeem on the day of , 20 (the “Redemption Date”) the Debenture at a price equal to the Redemption Cash Payment owing on the Redemption Date in accordance with Section 3(a) of the Debenture.

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