AMENDMENT TO MANAGEMENT SERVICES AGREEMENT
AMENDMENT
TO MANAGEMENT SERVICES AGREEMENT
WHEREAS the undersigned have entered into a management services agreement dated effective as of the 30th day of June, 2005 (the “Management Services Agreement”) and now wish to amend the terms of the Management Services Agreement in the manner set out below,
For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, THE PARTIES HEREBY AGREE AS FOLLOWS:
| 1. | that the Management Services Agreement
be amended by deleting Section 4 in its entirety and be replaced with
the following: |
|
4. |
The Company further agrees that, in addition to
the payment of the Consulting Fee and the reimbursement of the Reimbursable
Expenses, the Manager will be granted options to purchase 250,000 shares
of the Company’s common stock pursuant to the Company’s 2005
Stock Option Plan at an exercise price of $1.09 per share for a period
of five (5) years from the date of issuance. |
|
| 2. | This Amendment Agreement may be executed
in counterparts which together shall form one and the same instrument.
|
|
IN WITNESS WHEREOF the parties hereto have executed this Amendment Agreement as of the 11th day of July, 2005.
| RAPA MINING INC. | XXXXXX X.X. XXXXXX | |
| a Nevada corporation by its | ||
| authorized signatory: | /s/ Xxxxxx X.X. Xxxxxx | |
| Signature | ||
| /s/ Xxxxxx X.X. Xxxxxx | ||
| Signature of Authorized Signatory | ||
| Xxxxxx X.X. Xxxxxx | ||
| Name of Authorized Signatory | ||
| Director and | ||
| Chief Executive Officer | ||
| Position of Authorized Signatory |
