AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
This Amendment No. 1 to that certain Employment Agreement dated November 2, 2012 (this “Amendment”) is made by and between Gold Resource Corporation (the “Company”) and Barry D. Devlin (the “Employee”), effective as of December 1, 2014, with reference to the following facts:
WHEREAS, (i) the Company and the Employee entered into that certain Employment Agreement effective November 2, 2012 (the “Agreement”) and (ii) the parties desire to amend the Agreement as set forth herein.
NOW THEREFORE, in consideration of the foregoing recitals and the provisions contained herein, the adequacy and sufficiency of which are hereby acknowledged, the parties agree as follows:
Amendment. The Agreement is hereby amended as follows:
Section 4.1 of the Agreement is hereby deleted and replaced in its entirety with the following:
“4.1Base Salary. As compensation for the Employee’s services rendered hereunder, the Company shall pay to the Employee a base salary at an annual rate equal to three hundred thirty thousand dollars ($330,000) (the “Base Salary”). The Base Salary shall be payable to the Employee in accordance with the Company’s standard payroll policies for management personnel.”
IN WITNESS WHEREOF, each of the parties hereto have executed this Amendment to be effective as of the date first written above.
Gold Resource Corporation, a Colorado corporation
By: /s/ Jason Reid
Name: Jason Reid
Title: Chief Executive Officer and President
By: /s/ Barry D. Devlin
Barry D. Devlin