PERSONAL AND CONFIDENTIAL February 3, 2023
Exhibit 10.1
February 3, 2023
Xxxxx Xxxx-Xxxxx
0000 Xxxxxxxx Xxxx
Evergreen, CO 80439
RE: | Professional Services Agreement- Extension of Term and Revised Retainer Rate |
Xxxxx,
This letter confirms our discussion regarding the extension of your Professional Services Agreement dated January 1, 2021, as amended, between Rare Element Resources Inc. (the “Company”) and you (the “Agreement”). As we agreed, the Agreement term shall continue through December 31, 2023, unless otherwise terminated pursuant to the terms of the Agreement. Further, I’m pleased to advise you that your updated full-time retainer is based upon an annual rate of $242,500 as of January 1, 2023.
This Agreement extension shall be effective as of January 1, 2023. All other terms shall remain unaltered by this extension.
Thank you, Xxxxx, for your continued engagement and support of the Company.
Kind Regards,
/s/ Xxxxx Xxxx
Xxxxx Xxxx
President and CEO
Agreed to and accepted by:
/s/ Xxxxx Xxxx-Xxxxx
_________________________
Xxxxx Xxxx -Xxxxx
Littleton, CO 80122