Exhibit 10.55


 


 


 


	October 1, 2016	 Delivered and via e-mail







 


Secretary
Spenser Abraham


600
14th Street NW, Suite 400


Washington, DC 20005


 


Dear Secretary Abraham:


 


Re:


Uranium Energy
Corp. (the “Company”)


Letter respecting
Appointment as Executive Chairman


 


It is with the sincerest
appreciation that we understand that you have kindly consented to join the Board of Directors of our Company (the “Board”)
and, in connection therewith, honor us further in consenting to act as the Executive Chairman of our Board (collectively, your
“Appointment”).


 


This letter (the “Letter”)
is intended to set out the basis upon which the Company is pleased to accept your Appointment and, in furtherance thereof, the
Company is pleased to confirm that the following will represent your executive compensation with the Company during your tenure
as the Executive Chairman of its Board:


 


		-	our Company will provide you with a monthly fee of US$10,833.33
during your tenure as Executive Chairman (representing US$130,000 on a yearly aggregate basis) and which initial monthly fee will
be due and payable one month from the effective date of your Appointment (the “Effective Date”; which we will
determine by mutual agreement in due course);



 


		-	our Company will consider the payment of a yearly discretionary
bonus to you based on your performance as Executive Chairman;



 


		-	the Company will provide you with an annual fee US$20,000.00
in connection with your tenure as a director of our Company;



 


		-	our Company will reimburse you for all reasonable travel,
accommodation and other out-of-pocket expenses incurred in connection with your service (including business class airfare in the
event that travel is required and similar business class fare for other forms of transportation and hotel accommodation), provided
that such expenses shall be submitted to the Company for payment accompanied by appropriate documentation; and



 


 





 











Suite 320
- 1111 W. Hastings St. Vancouve BC V6E 2J3 | t (866) 748 1030 f (604) 682 3591 www.uraniumenergy.com NYSE MKT: UEC 





 




     


     


    

 




 


 


 


October 1, 2016


Page 2


 


		-	our Company will, on the Effective Date, grant to you,
in accordance with the Company’s current 2015 Stock Incentive Plan, a vesting incentive stock option (the “Option”)
to purchase an aggregate of 1,000,000 shares of the Company’s common stock, exercisable at the closing market price of the
Company’s common shares on the business day immediately preceding the Effective Date, and vesting over an 18 month period
(that being as to an initial 1/4th vesting on the date which is three months from the Effective Date and a further
and final 1/4th vesting on the dates which are six, 12 and 18 months, respectively, from the Effective Date.



 


In connection with
your Appointment, we confirm that it is presently expected that you will make yourself available for four formal Board meeting
per year (three of four being via conference call and one, perhaps, in New York to facilitate in-person interaction) and that you
will participate in investor meetings (which might involve group presentations or one-on-one meetings that might occur during one
week every quarter) and in overseas meetings with strategic investors (which might involve utility companies and/or state-owned
nuclear enterprises).


 


This Letter is intended
to be a binding offer and a complete statement of the compensations terms of your Appointment with our Company. If the foregoing
is acceptable to you, please so indicate by executing this Letter, faxing or emailing a copy and returning the original signed
to the undersigned. We look forward to working with you and in watching our Company better prosper as a result of our association
with you.


 


Yours very truly,


 


Uranium Energy Corp.


 


 





	/s/ Amir Adnani	 


Per:  Amir Adnani, President and CEO





 


The terms of this Letter are hereby accepted
and agreed to by the undersigned effective on this 5th day of September, 2015.


 


 





	/s/ Secretary Spencer Abraham	 




Secretary Spencer Abraham


 


__________




 


 


 











Suite 320
- 1111 W. Hastings St. Vancouve BC V6E 2J3 | t (866) 748 1030 f (604) 682 3591 www.uraniumenergy.com NYSE MKT: UEC