0001193125-12-065496 Sample Contracts

GRANT AGREEMENT
Grant Agreement • February 16th, 2012 • Golden Star Resources LTD • Gold and silver ores

WHEREAS the Corporation has established the Share Appreciation Rights Plan (the “Plan”) to provide incentive compensation, based on the appreciation in value of the Shares, to directors, executive officers, employees and Consultants of the Corporation and its Subsidiaries;

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