AMENDMENT TO OPTION AGREEMENT
TO: | XXXX X. XXXX (“Xxxx”) |
FROM: | XTRA-GOLD RESOURCES CORP. (“Xtra-Gold”) |
RE: | STOCK OPTION AGREEMENT DATED JANUARY 25, 2010 |
(the “Option Agreement”) |
AMENDMENT TO OPTION AGREEMENT
WHEREAS in accordance with section 8 of the Option Agreement, 3,000 stock options (the “Options””) are to vest on a monthly basis commencing from February 1, 2010 to and including January 1, 2013;
AND WHEREAS on May 31, 2010, the board of directors of Xtra-Gold approved an amendment to the Option Agreement whereby the number of Options to vest on a monthly basis shall be increased to 4,500 effective June 1, 2010 until fully vested (the “Amendment”);
UPON EXECUTION OF THIS AGREEMENT, the Amendment shall be accepted by the Parties hereto and be in full force and effect;
THE PARTIES HERETO FURTHER AGREE as follows:
1. | All other terms and conditions of the Option Agreement will remain in full force and effect. | |
2. | This Agreement, together with the Option Agreement, shall constitute the entire agreement between Xxxx and Xtra-Gold and there shall be no further amendments other than as may be made pursuant to a written agreement executed by the Parties. | |
DATED this 1st day of June, 2010. |
SIGNED, SEALED AND DELIVERED | ) | XTRA-GOLD RESOURCES CORP. |
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in the presence of | ) | |
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) | Per: /s/ Xxxxx Xxxxx | |
/s/ Xxxxx Xxxxxxx | ) | Xxxxx Xxxxx Secretary |
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Signature of Witness | ) | |
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Xxxxx Xxxxxxx | ) | /s/ Xxxx X. Xxxx |
Print Name of Witness | ) | XXXX X. XXXX |