exv10w29






Exhibit 10.29




Notice to Holders of

United Chile Synthetic Options




Right to Amend Grant Agreement




December 16, 2008




     This Notice is delivered to you as a holder of United Chile Synthetic Options (“United Chile
Options”) granted pursuant to the Letter Agreement dated December 22, 2006 (the “Grant Agreement”)
between you and United Chile LLC. Capitalized terms used but not defined in this Notice have the
meaning given to such terms in the Grant Agreement, a copy of which is attached hereto.



     The Term of your United Chile Options will expire on the date set forth in Schedule A of the
Grant Agreement or, if earlier, the expiration date established under Section 2(d) of the Grant
Agreement. Section 2(d)(iii) of the Grant Agreement provides that if your employment or consulting
relationship with LGI and its Subsidiaries (collectively, the “Company”) terminates for any reason
other than for cause, Disability or death, then the Term of your United Chile Options will expire
on the last day of the 90-day period beginning on the date of termination of such employment or
consulting relationship. Under Section 2(d)(ii), if you die during the 90-day period referenced in
the preceding sentence, the Term of your United Chile Options would expire on the date that is
one-year after the date of your death.



     This Notice is delivered to advise you of the determination by the LGI Committee to afford
each holder of United Chile Options a one-time opportunity to amend Section 2(d)(iii) of the Grant
Agreement to extend the 90-day period therein to a period of one year following the termination of
such holder’s employment or consulting relationship with the Company. A conforming amendment would
also be made to Section 2(d)(ii). If you elect to so amend the Grant Agreement, the amendment will
apply to all of your United Chile Options.



     As provided in the Grant Agreement, although the United Chile Options may be exercised at any
time during the applicable Term, payment by United Chile will not be made with respect to such
exercise until after the Term has expired. As such, if you elect to amend Section 2(d)(iii) of the
Grant Agreement and your employment or consulting relationship with the Company terminates for any
reason other than cause, Disability or death, then both the exercise period and payment date
applicable to your United Chile Options would be extended from 90 days to one year (or, if shorter,
to the end of the Term as set forth on Schedule A of the Grant Agreement) from the date of such
termination. If you die during the one-year period described above regarding terminations to which
Section 2(d)(iii) applies, the Term applicable to your United Chile Options would continue to be
extended for a period of one year (or, if shorter, to the end of the Term as set forth on Schedule
A of the Grant Agreement) from the date of your death, as is currently the case under Section
2(d)(ii).



 









 





     You may elect to amend Section 2(d)(ii) and Section 2(d)(iii) as provided above only by
executing and returning the attached Amendment Election Form to United Chile LLC, attention
Elizabeth Markowski, no later than Tuesday, December 30, 2008. Delivery of the Amendment Election
Form may be effected through any of the following means: (1) personal delivery to LGI’s corporate
headquarters at 12300 Liberty Boulevard, Englewood Colorado, 80112, USA, (2) facsimile delivery to
+1 303.220.6691, or (3) email delivery to liz@lgi.com. If delivery is by facsimile or email,
please also forward an original executed copy by courier to the attention of Elizabeth M. Markowski
at LGI’s corporate headquarters at the address set forth above. If you fail to timely deliver the
duly executed Amendment Election Form to United Chile LLC, you will be deemed to have elected not
to amend the Grant Agreement with respect to your United Chile Synthetic Options.



     As a separate matter, Section 5 of the Grant Agreement is being amended pursuant to its terms
to delete the word “Disability” from the first sentence. This amendment is required to comply with
Internal Revenue Code Section 409A and recently adopted rules related thereto.



     Except as specifically set forth in this Notice, all provisions of the Grant Agreement will
remain unchanged and in full force and effect. If you have any questions regarding the foregoing,
please contact Elizabeth Markowski by phone at 303.220.6648 or in writing at the following email
address: liz@lgi.com.



 









 





United Chile Synthetic Option Holder

Amendment Election Form




     I hereby elect to amend Section 2(d)(ii) and Section 2(d)(iii) of the Grant Agreement (as
defined in the Amendment Notice to which this Election Form is attached) to read, in their
entirety, as follows:




“(ii) If you die while employed by or a consultant to LGI and its Subsidiaries or within
the one-year period referred to in clause (iii) below, your United Chile Synthetic Options
will terminate on the first Business Day following the expiration of the one-year period
which began on the date of your death; or




(iii) If your employment or consulting relationship with LGI and its Subsidiaries
terminates for any reason other than for cause, Disability or death, then your United Chile
Synthetic Options will terminate on the first Business Day following the expiration of the
one-year period which began on the date of termination of such relationship.”



     I understand and agree that this election is irrevocable and that, other than as set forth in
the Amendment Notice and in this Amendment Election Form, all terms and conditions of the Grant
Agreement remain unchanged and in full force and effect.



	 	 	 
	                                                            

EMPLOYEE

	 	                                                            

DATE