To Guaranty Sample Contracts

AMENDMENT NO. 1 TO GUARANTY
To Guaranty • June 20th, 2008 • Intrepid Technology & Resources, Inc. • Industrial organic chemicals

This AMENDMENT NO. 1 TO GUARANTY (this “Amendment”), is made effective as of June 17, 2008 (the “Effective Date”), by and between the undersigned subsidiaries of the Intrepid Technology and Resources, Inc., (the “Company”) (each a “Guarantor” and collectively, the “Guarantors”), and YA Global Investments, L.P. (the “Secured Party”) with reference to the following recitals:

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