AMENDMENT TO WARRANT ISSUED DECEMBER 1, 2005
AMENDMENT
TO WARRANT ISSUED DECEMBER 1, 2005
THIS
AMENDMENT AGREEMENT (the
“Amendment”) is
entered into as of March 28, 2008, between INTREPID
TECHNOLOGY AND RESOURCES, INC., a
corporation organized and existing under the laws of the State of Idaho (the
“Company”),
and
YA
GLOBAL INVESTMENTS, L.P. a
Cayman
Island exempted limited partnership (the “Holder”).
WHEREAS,
the
Company issued to the Holder on December 1, 2005 that certain warrant to
purchase 5,000,000 shares of the Company’s Common Stock at an exercise price of
$0.055 (the “Warrant”);
and
WHEREAS,
the
parties wish to amend the Warrant as set forth below.
NOW,
THEREFORE,
it is
agreed:
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I.
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Amendments.
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A.
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Section
1(b)(xv) “Warrant
Exercise Price”:
Section 1(b)(xv) of the Warrant is hereby deleted in its entirety
and the
following language shall replace said Section
1(b)(xv):
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Section
1(b)(xv) “Warrant Exercise Price” shall be $0.01 or as subsequently adjusted as
provided in Section 8 hereof.
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II.
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Miscellaneous.
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A.
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Except
as provided hereinabove, all of the terms and conditions contained
in the
Warrant shall remain unchanged and in full force and
effect.
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B.
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This
Amendment is made pursuant to and in accordance with the terms and
conditions of the Warrant.
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C.
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All
capitalized but not defined terms used herein shall have those meanings
ascribed to them in the Warrant.
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D.
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All
provisions in the Warrant and any amendments, schedules or exhibits
thereto in conflict with this Amendment shall be and hereby are changed
to
conform to this Amendment.
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[REMAINDER
OF THIS PAGE INTENTIONALLY LEFT BLANK]
IN
WITNESS WHEREOF,
the
parties hereto have caused this Amendment to be executed by the undersigned,
thereunto duly authorized, as of the date first set forth above.
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COMPANY:
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INTREPID
TECHNOLOGY AND RESOURCES, INC.
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By: __/s/
Xxxxx X. Dustin_____________________
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Name Xxxxx
X. Xxxxxx
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Title: President
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YA
GLOBAL INVESTMENTS, L.P.
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By:
Yorkville Advisors LLC
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Its:
Investment Manager
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By: ___/s/
Xxxx Xxxxxx _____________________
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Name Xxxx
Xxxxxx
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Title: President
& Portfolio Manager
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