Corporate Obligations
Summary of Corporate Obligations
The Company has outstanding contingent value rights (“CVR’s”) which entitles each holder to receive, net of certain deductions, a pro rata portion of the proceeds received by us with respect to the Arbitral Award or disposition of the technical data related to the previous development of the Brisas Project. In addition, the Company also maintains 1) a Bonus Pool Plan and 2) Change of Control Agreements with each of the named executive officers and certain employees.
Following receipt, if any, of additional funds pursuant to the Settlement Agreement and after applicable payments to CVR holders and Bonus Plan participants, we expect to distribute to our shareholders a substantial majority of any remaining amounts, subject to applicable regulatory requirements and retaining sufficient reserves for operating expenses, contractual obligations, accounts payable and income taxes, and any obligations arising as a result of the collection of the Award and/or sale of the Mining Data.