AMENDED MANAGEMENT CONSULTING AGREEMENT
AMENDED MANAGEMENT CONSULTING AGREEMENT
THIS AGREEMENT made effective as of the 1st day of May, 2005.
BETWEEN:
X. XXXXXX MANAGEMENT INC., a British Columbia company, having an office at 0000 Xxxxx Xxxx, Xxxxx Xxxxxxxxx, Xxxxxxx Xxxxxxxx X0X 0X0
(the “Consultant”)
AND:
EDEN ENERGY CORP., a Nevada company having an office at Suite 1925 – 000 Xxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxx Xxxxxxxx, X0X 0X0
(the “Company”)
WHEREAS:
A. The Company and the Consultant entered into a Management Consulting Agreement (the “Agreement”) dated September 1, 2004 and have agreed to amend the Agreement to increase the remuneration and include the issuance of stock options.
NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the premises and the mutual covenants and agreements herein contained, the parties hereto covenant and agree each with the other as follows:
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1. |
Paragraph 3.01 of the Agreement is hereby deleted in its entirety and replaced with the following: |
“3.01 As compensation for his management services, the Consultant shall receive a monthly management fee of US$10,000.00. The Company shall pay such management fee monthly on the first day of the month to which payment of such management fee relates.”
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2. |
A new paragraph 3.04 be added to the Agreement as follows: |
“3.04 As further compensation for his management services, the Company has agreed to grant to Xxxxxx Xxxxxx stock options to acquire up to 200,000 common shares of the Company at a price of $2.50 per share, exercisable until May 1, 2010.”
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3. |
In all other respects the Agreement shall remain the same. |
IN WITNESS WHEREOF the parties hereto have executed this agreement on the day and year first above written.
X. XXXXXX MANAGEMENT INC.
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Per: |
/s/ Xxxxxx Xxxxxx | |
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Signature |
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Dated: |
May 10, 2005 |
D/ljm/709460.1
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- 2 - |
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Per: |
/s/ Xxxx Xxxxxxx | |
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Signature |
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Dated: |
May 4, 2005 |
D/ljm/709460.1
