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EXHIBIT 10.27
AMENDMENT TO COST AND EXPENSE SHARING AGREEMENT
This Amendment is made as of the 1st day of March, 2001, by and between
Xxxxxx Mineral Group, Inc. ("BMG") and United States Exploration, Inc.
("Company").
RECITALS
BMG and Company are parties to a Cost and Expense Sharing Agreement
dated August 7, 1997, as amended by a letter agreement dated February 21, 2000
(the "Agreement"). The term of the Agreement ends upon the termination of the
Executive Employment Agreement between Company and Xxxxx X. Xxxxxx. In order to
assure Company a reasonable period to make other arrangements to obtain the
facilities, personnel and services that it may be obtaining under the Agreement
at the time of termination, the parties wish to provide for advance notice to
Company of the termination of the Agreement.
AGREEMENT
Accordingly, in consideration of the mutual covenants contained herein,
and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, BMG and Company agree that the first sentence of
Section 8 of the Agreement is amended to read in its entirety as follows:
This Agreement shall remain in effect until the later of (a) the
termination of the Executive Employment Agreement of even date herewith
between Xxxxx X. Xxxxxx and the Company, as from time to time amended,
or (b) the date specified in a written notice to Company from BMG,
which date shall not be less than 60 days after such notice is given.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the
day and year first above written.
XXXXXX MINERAL GROUP, INC.
By: /s/ Xxxxx X. Xxxxxx
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Xxxxx X. Xxxxxx, President
UNITED STATES EXPLORATION, INC.
By: /s/ F. Xxxxxxx Xxxxxx
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F. Xxxxxxx Xxxxxx, Vice President
