PERSONAL AND CONFIDENTIAL VIA HAND DELIVERY January 11, 2016Personal and Confidential • January 13th, 2016 • Rare Element Resources LTD • Gold and silver ores
This letter agreement confirms a change to your Severance Compensation Agreement referenced above as of January 11, 2016. As you are aware, the Board of Directors (the “Board”) has instructed the Company to achieve certain objectives, including seeking strategic partners and raising additional capital, in early 2016 and your commitment and involvement in those objectives is deemed key to our success. Given other cost conservation measures, including reduction in personnel, we anticipate your involvement as the Company’s ____________________ to continue to be full time, through at least March 31, 2016, however, cost reduction is critical to our success.
