Exhibit 10.14
CHANGE ORDER NO. 4
TO
AGREEMENT NO. EDC10017 (ECD-CON-10-001)
BETWEEN
EMIRATES NUCLEAR ENERGY CORPORATION
(ENEC)
AND
LIGHTBRIDGE CORPORATION
FOR
NUCLEAR ENERGY CONSULTANCY SERVICES
AGREEMENT CHANGE ORDER
| AGREEMENT NO:EDC10017 (ECD-CON-10-001) | CHANGE ORDER NO.:04 | EFFECTIVE DATE: JANUARY 01ST, 2012 | |
| AGREEMENT TITLE: NUCLEAR ENERGY CONSULTANCY SERVICES | |||
| CONTRACTOR: LIGHTBRIDGE CORPORATION | |||
| DURATION: JANUARY 01, 2012 TO DECEMBER 31, 2012. | |||
| PREAMBLE: | |||
Change Order No. 4 is Customer's formal approval of the Change to the above Agreement No. EDC10017 (ECD- CON-10-001). Total Estimated Contract Price is USD 136,129.00 for one (1) year effective from January 01st, 2012. | |||
| CHANGE ORDER DETAILS: | |||
This Change Order No. 4 is made to renew the Nuclear Consultancy Services Agreement with M/s Lightbridge Corporation for one (1) year effective date starting January 1st, 2012 on the same Terms & Conditions with additional Personnel & new Rates for 2012. The Estimated Cost of 2010 & 2011 Agreement was USD 2,347,000.00 however only USD 2,066,228.82 was utilized until the end of 2011. Therefore, including the value of this change order No. 4 USD 136,129.00 the revised Agreement value will be USD 2,202,357.82 | |||
| EFFECT ON AGREEMENT SCHEDULE: | |||
| Performance Period is extended by one (1) year (i.e. from January 01st, 2012 to December 31st, 2012). | |||
| TERMS AND CONDITIONS: | |||
• Except as otherwise stated in this Change Order No. 04, all other terms and conditions of the original | |||
| Agreement shall remain unchanged. | |||
| EFFECT ON AGREEMENT PRICE: | |||
• Original Agreement Value (USD) | 1,877,600.00 | ||
• Change Order No. 01 Value (USD) | 0.00 | ||
• Change Order No. 02 Value (USD) | 469,400.00 | ||
• Change Order No. 03 Value (USD) | 0.00 | ||
• Change Order No. 04 Value (USD) — Not utilized value | (-280,771.18) | ||
• Change Order No. 04 Value (USD) — Renewal Budget | 136,129.00 | ||
| Revised Contract Value(USD) | 2,202,357.82 | ||
SIGNATORIES
IN WITNESS of which each of the parties has signed this Agreement Change Order No. 04 on the Effective Date:
| By: | /s/ Saleh Al Shehhi | ||
| SIGNED by | ) | ||
| For and on behalf of Emirates Nuclear | ) | Name: Saleh Al Shehhi | |
| Energy Corporation (ENEC) | ) | Title: Executive Director Supply Chain | |
| Date: 16/04/2012 | |||
| By: | /s/ Seth Grae | ||
| SIGNED by | ) | ||
| For and on behalf of Lightbridge | ) | Name: Seth Grae | |
| Corporation | ) | Title: President & CEO | |
| Date: 13 April 2012 | |||