BLUE RIDGE REAL ESTATE COMPANY
BIG BOULDER CORPORATION
ADDENDUM TO STOCK OPTION AGREEMENT
▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ (the "Optionee") has been granted an option (the
"Option") as of July 1, 1997 to purchase 25,000 shares of Common Stock of Blue
Ridge Real Estate Company and Big Boulder Corporation (collectively the
"Companies"). In accordance with Paragraph 8 Amendment, the Option Agreement
of July 1, 1997 is subject to the following revision:
2. DURATION OF OPTION. Pursuant to the approval given by the Board of
Directors of the Companies at a Board Meeting held on February 5, 2003, the
Option already granted is extended and shall expire, and all rights to purchase
Shares pursuant thereto shall cease, on July 1, 2008.
All other terms and conditions of the Option of July 1, 1997 shall remain
the same.
Date of Extension: February 5, ▇▇▇▇
▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ COMPANY
BIG BOULDER CORPORATION
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇
▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇
Executive Vice President and
Treasurer
Attest:
/s/ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇ /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇, Optionee
