EXHIBIT 4
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October 16, 1998
PRIVATE AND CONFIDENTIAL
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Franco-Nevada Mining Corporation Limited
00 Xxxxxxxx Xxxxxx Xxxx
Xxxxxxx, Xxxxxxx
X0X 0X0
Dear Sirs:
RE: PURCHASE BY FRANCO-NEVADA MINING CORPORATION LIMITED ("FRANCO-NEVADA")
OF VBN SHARES OF INCO LIMITED ("INCO") FROM CERTAIN VENDORS
First Marathon Securities Limited ("FMSL") is acting as Franco-
Nevada's agent with respect to the purchase by Franco-Nevada from certain
vendors of an aggregate of 6,576,173 VBN Shares of Inco (collectively, the
"Shares"). The purchase of the Shares will occur pursuant to the terms of one
or more private agreements made between Franco-Nevada and such vendors.
This letter will confirm that, in consideration of the services
provided by FMSL to Franco-Nevada is acting as its agent in respect of the
subject transaction and in facilitating this transaction, Franco-Nevada will pay
to FMSL, concurrent with the closing of the purchase of the Shares, a commission
equal to $0.05 (Cdn.) per Share purchased.
Please acknowledge Franco-Nevada's concurrence with the foregoing by
executing this letter where indicated and returning it to the undersigned at
your earliest convenience whereupon this letter shall evidence the agreement
between us with respect to these matters.
This letter may be executed by the parties in separate counterparts
each of which when so executed and delivered shall be an original, but all such
counterparts shall constitute on and the same instrument.
Yours very truly,
FIRST MARATHON SECURITIES LIMITED
Per: /s/ G.F. Xxx Xxxxxxx
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G.F. Xxx Xxxxxxx
Chief Operating Officer
AGREED AND ACCEPTED as of the 16th day of October, 1998.
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FRANCO-NEVADA MINING CORPORATION LIMITED
Per: /s/ Xxxxxxx Xxxxxxxx
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Authorized Signing Officer
