RARE ELEMENT RESOURCES LTD - FORM 10-Q - EX-10 - AMENDMENT TO SEVERANCE COMPENSATION AGREEMENT - November 13, 2017

Attached files

file filename
EX-32 - CERTIFICATION - RARE ELEMENT RESOURCES LTDpfo906cert322.htm
EX-32 - CERTIFICATION - RARE ELEMENT RESOURCES LTDceo906cert321.htm
EX-31 - CERTIFICATION - RARE ELEMENT RESOURCES LTDpfocert312.htm
EX-31 - CERTIFICATION - RARE ELEMENT RESOURCES LTDceocert311.htm
EX-10 - INTELLECTUAL PROPERTY RIGHTS AGREEMENT - RARE ELEMENT RESOURCES LTDexhibit105.htm
EX-10 - COMMON SHARE PURCHASE OPTION - RARE ELEMENT RESOURCES LTDexhibit104.htm
EX-10 - INVESTMENT AGREEMENT - RARE ELEMENT RESOURCES LTDexhibit103.htm
EX-10 - TERM SHEET FOR PURCHASE OF COMMON SHARES, OPTIONS AND INTELLECTUAL PROPERTY RIGH - RARE ELEMENT RESOURCES LTDexhibit101.htm
10-Q - RARE ELEMENT RESOURCES LTD FORM 10-Q - RARE ELEMENT RESOURCES LTDrer10qnov917.htm

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Exhibit 10.2



PERSONAL AND CONFIDENTIAL


August 29, 2017


Randall Scott


RE:

Extension of salary status - Randall J. Scott    


Randy,


This letter agreement confirms the discussion and agreement between you and Rare Element Resources, Inc. (the “Company”) regarding the continuation of the adjusted salary and term as set forth in the letter agreement dated June 7, 2017.  As we agreed, your salary will continue to be $14,000 per month as of September 1, 2017 for a period of two months while you focus your efforts on completing the pending investor agreement and overseeing the administration of the Company.  You will continue as the Company’s President and Chief Executive Officer working from your home office, devoting as much time as necessary to achieve the key objectives of the Company.  


It is currently expected your ongoing employment and your salary would be evaluated further by the end of October 2017, and if the pending investment agreement has not been successfully closed within that time period, it is expected that the Board of Director’s will implement further cost cutting measures.  


Your Severance Compensation Agreement dated April 23, 2013, as amended, remains unchanged by this letter agreement with the exception of the base salary adjustment. We look forward to working with you to achieve the Company’s key objectives in this time period.  


Please sign below your acceptance of this amendment.  



Kind Regards,


/s/ Gerald Grandey

Gerald Grandey

Chairman of the Board


Accepted and Agreed on this 29th day of August, 2017.



/s/ Randall J. Scott_

Randall J. Scott



PO Box 271049                                                                          Page 1                                                                          P:  720-278-2460

Littleton, CO  80127                                                                                                                           www.rareelementresources.com

RARE ELEMENT RESOURCES LTD Reports