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 |
