Revett Minerals Inc.: Exhibit 10.16 - Filed by newsfilecorp.com







Exhibit 10.16 

AMENDMENT TO EMPLOYMENT AGREEMENT 

This Amendment to Employment Agreement (the "Amendment") is
made and entered into effective as of February 1, 2015 (the "Effective Date"),
by and between Revett Silver Company, a Montana corporation (hereinafter
referred to as the "Corporation") and John Shanahan (hereinafter referred
to as "Employee"). 

RECITALS: 

A.     WHEREAS, the Corporation and
Employee arc parties to that certain employment agreement dated January 1, 2010
(the "Employment Agreement"); and 

B.     WHEREAS, the Corporation and
Employee desire to modify certain provisions of the Employment Agreement in an
effort to ensure the Corporation's continued operations and enable it to take
advantage of any offer the Corporation might receive to sell all or
substantially all of its assets or merge or consolidate (or facilitate its
parent corporation, Revett Minerals Inc., in merging or consolidating) with or
into another business entity; and 

C.     WHEREAS the Corporation and Employee
each reasonably believe such modifications are reasonable and necessary, and
unless consented to and approved as provided in this Amendment, could impede or
impair the Corporation's ability to operate and thereby deprive the Employee of
some or all of the economic benefits of the Agreement. 

AGREEMENT: 

NOW THEREFORE, in consideration of the respective covenants and
agreements herein contained and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Corporation and
Employee covenant and agree as follows: 

	1. 	
      Amendments to Employment
Agreement.



1.1 Section Three -Compensation.
The first sentence of Section Three of the Agreement is deleted and amended to
read in its entirety as follows: 

"The Corporation shall pay Employee,
and Employee shall accept from the Corporation, compensation at the rate of
$330,000.00 per year, prorated and payable monthly or on such other basis as the
Corporation and Employee may hereafter agree in writing!' 

1.2 Section Three -Compensation.
The last two sentences of Section Three of the Agreement are deleted and amended
to read in their entirety its entirety as follows: 

"Employee shall be entitled to
vacation periods that are commensurate with the policies of the Corporation that
are applicable to exempt employees; provided, however, that Employee shall be
entitle to a minimum paid vacation of four      
weeks in each calendar year during which Employee is employed by the
Corporation. If Employee falls to use all of his or her vacation days in a
calendar year, such unused vacation days shall automatically deemed to have been
forfeited by Employee, and the Corporation shall have no obligation to pay or
otherwise compensate Employee for the same." 

AMENDMENT TO EMPLOYMENT AGREEMENT.I








1.3     Section
Five -Termination. Subsection (1) of Section Five is deleted and amended to read
in its entirety as follows: 

"Voluntarily and without cause,
subject to Sections Two and Six, upon not less than five (5) calendar days'
prior written notice by the Corporation to the Employee or by the Employee to
the Corporation; or" 

1.4     Section
Six-Severance Compensation. Subsection 4(b) of Section Six is deleted and
amended to read in its entirety as follows: 

"If any of the events described above
constituting a Change in Control shall have occurred and such Change of Control
shall have resulted in a termination of Employee's employment, or if Employee
terminates his employment for Good Reason (as defined in subsection 4(c) of this
Section Six), then, in either case, the Corporation shall pay Employee a
severance benefit in an amount equal to eighteen months of Employee's salary
calculated immediately prior to Such termination. Such severance benefit shall
be paid in one lump sum within thirty (30) days of termination or at such other
date that the Corporation and Employee shall agree, it being understood and
agreed that, if the Corporation and Employee agree that such severance benefit
shall be paid in installments, the Corporation shall have no obligation to pay
Employee interest on any unpaid amount. In addition to the severance benefit,
the Corporation shall continue to pay Employee any other employment-related
benefits to which Employee is entitled, as if he or she continued to be an
employee of the Corporation, for a period of one (1) year following termination
or until such time (which in no event shall exceed one year from such
termination) as Employee receives comparable benefits from a new employer. In
the event Employee has existing stock options, they shall be honored in
accordance with their terms. The severance and other benefits afforded Employee
by this subsection shall not apply despite the occurrence of a Change in Control
if Employee's employment by the Corporation is terminated because of Employee's
death or Disability (as defined in subsection 3 of this Section Six) or if
Employee's employment is terminated by the Corporation For Cause (as defined in
Section Ten). 

I.5   
 Arbitration. A new section (Section Thirteen) reading in its
entirety is hereby added to the Agreement: 

"SECTION TIIIRTEEN • ARBITRATION. Any
dispute regarding the interpretation of this Agreement or the performance by the
Corporation or Employee of their respective obligations shall be submitted to
and determined by the decision of a single arbitrator, being either a retired
judge or a retired attorney with a minimum often years of experience in
negotiating and documenting employment agreements such as that contemplated by
this Agreement, who shall be selected by mutual agreement of the Corporation and
Employee, and shall be independent of the parties. The arbitration shall be
conducted in Spokane, Washington, in accordance with the arbitration rules set
forth in RCW 7.04A, and the arbitrator shall reach and render a decision in
writing (which shall state the reasons for his or her decision), which shall be
entirely on the basis of the substantive law governing this Agreement. To the
extent practical, decisions of the arbitrator shall be rendered no more than 30
calendar days following commencement of proceedings with respect thereto. Any
decision made by the arbitrator (either prior to or after the expiration of such
30 calendar day period) shall be final, binding and conclusive on the parties to
this Agreement, and each party to the arbitration shall be entitled to enforce
such decision to the fullest extent permitted by law and entered in any court of
competent jurisdiction. The fees and expenses of the arbitrator and the
reasonable fees and expenses of legal counsel and consultants of the
parties shall be paid by the Corporation.

AMENDMENT TO EMPLOYMENT AGREEMENT .. 2 

1\l}r





This Amendment may be executed in one or more counterparts, all
of which shall constitute a single agreement. 

DATED asof the 30th day of January 2015, but
effective as of the Effective Date. 

	THE CORPORATION: 	Revett Silver 
	  	Company, a 
	  	Montana 
	  	corporation