Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Nord Resources Corporation - Exhibit 10.1

THIRD AMENDMENT 
to the “Terms of
Agreement,
Option to Purchase the ‘Coyote Springs’ Property,

Graham County, Arizona”

This document is the third amendment (the “Amendment”)
to the “Terms of Agreement, Option to Purchase the ‘Coyote Springs’ Property,
Graham County, Arizona” dated January 28, 2004, as amended, (the “Property
Agreement”) between NORD RESOURCES CORPORATION (“Nord”) and
THORNWELL ROGERS, SOUTH BRANCH RESOURCES LLC and MRPGEO,
LLC (collectively the Vendors”).

WHEREAS:

A.                    
Section 2 of the Property Agreement provides for certain payments by Nord to
each of the Vendors in cash or shares of common stock of Nord (the “Nord
Shares”) and further provides for the issuance by Nord to each of the
Vendors of options to purchase shares of common stock of Nord (the “Nord
Options”), at the times and in the amounts set forth in the Property
Agreement; and

B.                    
The parties hereto wish to set forth their agreement as to how those
payment obligations will be met in the event that Nord merges with or into
another person, entity or corporation (a “Merger”);

NOW, THEREFORE, in consideration of the payment by Nord to the
Vendors of the sum of Ten Dollars (US$10.00), the receipt and sufficiency of
which is hereby acknowledged by the Vendors, and in consideration of premises,
and of the representations and warranties, covenants and agreements contained
herein, the parties agree as follows:

1.          
The following terms will have the following meanings in this Amendment
Agreement: 

“Conversion Ratio” means the ratio determined as
follows: (i) the per share consideration received by the stockholders of Nord
determined in accordance with a Merger Agreement, divided by (ii) the average of
the closing price per share of the Substitute Shares on the primary trading
market for such shares for the five trading days immediately preceding the date
the Merger Agreement is signed;

“Merger Agreement” means a definitive agreement setting
forth the terms and conditions of a Merger;

“Related Entity” means any parent, ultimate parent, or
subsidiary of the Successor and includes any business, corporation, partnership,
limited liability company or other entity in which the Successor holds a greater
than fifty percent ownership interest, directly or indirectly;

“Substitute Options” means options to purchase
Substitute Shares at the exercise price calculated in accordance with Section 4
of this Amendment;

“Substitute Shares” means shares of common stock in the
Successor or a Related Entity; provided that if the shares of common stock in
any of the Successor or a Related Entity are 

- 2 -

publicly traded or quoted, the Substitute Shares shall be the
publicly traded or quoted shares in such entity; and

“Successor” means the surviving or successor corporation
upon completion of a Merger.

2.          
The parties hereto agree that, in the event of the closing of a Merger,
each obligation of Nord under Section 2 of the Property Agreement to either
issue Nord Shares or make a cash payment to each of the Vendors in the amounts
and at the times set forth in the Property Agreement will be satisfied by
payment to each of the Vendors of the greater of: 

(a)          
the cash amount set forth in Section 2 of the Property Agreement; or

(b)          
the value of such number of Substitute Shares as is equal to the number of Nord
Shares set forth in Section 2 of the Property Agreement multiplied by the
Conversion Ratio. For these purposes, value of the Substitute Shares will be
calculated based on the per share closing price of the Substitute Shares on the
primary trading market for such shares on the applicable payment date.

Such payment will be made, at the election of the Successor,
either: (i) in cash; or (ii) by issuance of the number of Substitute Shares
calculated in accordance with subsection 2(b).

3.          
The parties hereto agree that, in the event of the closing of a Merger,
each obligation of Nord under Section 2 of the Property Agreement to issue Nord
Options to each of the Vendors in the amounts and at the times set forth in the
Property Agreement will be satisfied, at the option of the Successor, by
either:

(a)          
issuing to each of the Vendors Substitute Options, in which case the
number of Substitute Options to be issued will equal the number of Nord Options
set forth in Section 2 of the Property Agreement multiplied by the Conversion
Ratio; or

(b)          
paying to each of the Vendors a cash amount equal to the value of the
number of Substitute Options calculated in accordance with subsection 3(a). For
these purposes, value of the Substitute Options will be calculated as the
difference between the per share exercise price of such Substitute Options and
the per share closing price of the Substitute Shares underlying the options on
the primary trading market for such shares on the applicable payment date.

4.          
If Substitute Options are issued pursuant to Section 3(a) of this
Amendment, the exercise price of such options will be 15% below the market value
of the Substitute Shares on the date of issuance, or such other exercise price
as may be required by any laws, rules, regulations or plans governing the terms
of issuance of the Substitute Options.

5.          
The parties hereto agree and acknowledge that the obligations of the
Successor or Related Entity as described herein will be in full substitution of
the payment obligations of Nord under the Property Agreement.

6.          
The parties further agree and acknowledge that the provisions of this
Amendment are conditional upon the completion of a Merger and that, in the event
a Merger is not consummated

- 3 -

prior to March 31, 2007, this Amendment will automatically be
cancelled and shall be of no further force or effect, in which case the
provisions of Section 2 of the Property Agreement will continue as set forth
therein without modification or amendment.

7.          
This Amendment shall be governed by and in accordance with the laws of the State
of Arizona.

8.          
This Amendment does not amend or modify any terms of the Property Agreement or
the amendments thereto, except as expressly set forth herein.

9.          
For clarity, the parties hereto agree that, upon a closing of a Merger, the
language in the Recitals and Section 2 of the Debt Conversion Agreements dated
April 16, 2004 between Nord and each of the Vendors will be modified and
interpreted in a manner consistent with the provisions of this Amendment.

10.         This
agreement may be executed in any number of counterparts, each of which shall be
enforceable against the parties actually executing such counterparts, and all of
which together shall constitute one instrument. Delivery of an executed copy of
this agreement by electronic facsimile transmission or other means of electronic
communication capable of producing a printed copy will be deemed to be execution
and delivery of this agreement as of its effective date.

IN WITNESS WHEREOF the parties have executed this agreement as
  of October 17, 2006

NORD RESOURCES CORPORATION

	per:		 
	 	  	 
	 	/s/ Erland Anderson 	 
	 	Erland Anderson, Chief Executive
      Officer 	 

THE VENDORS:

	By: 	/s/ Thornwell Rogers 	 
	  	Thornwell Rogers 	 
	  	  	 
	  	  	 
	  	  	 
	By 	/s/ Daniel P. Laux 	 
	  	Daniel P. Laux, Member 	 
	  	South Branch Resources, LLC 	 
	  	 	 
	  	 	 
	  	 	 
	By 	/s/ Michael R. Pawlowski 	 
	  	Michael R. Pawlowski, Member 	 
	  	MRPGEO, LLCFiled by Automated Filing Services Inc. (604) 609-0244 - Nord Resources Corporation - Exhibit 10.2

SECOND AMENDMENT 
to the “Terms of Agreement, 
Option
to Purchase the ‘Mimbres’ Property, 
Grant County, New Mexico”

This document is the third amendment (the “Amendment”)
to the “Terms of Agreement, Option to Purchase the ‘Mimbres’ Property, Grant
County, New Mexico” dated June 10, 2004, as amended, (the “Property
Agreement”) between NORD RESOURCES CORPORATION (“Nord”) and
THORNWELL ROGERS, SOUTH BRANCH RESOURCES LLC and MRPGEO,
LLC (collectively the Vendors”).

WHEREAS:

A.                    
Section 2 of the Property Agreement provides for certain payments by Nord to
each of the Vendors in cash or shares of common stock of Nord (the “Nord
Shares”) and further provides for the issuance by Nord to each of the
Vendors of options to purchase shares of common stock of Nord (the “Nord
Options”), at the times and in the amounts set forth in the Property
Agreement; and

B.                    
The parties hereto wish to set forth their agreement as to how those
payment obligations will be met in the event that Nord merges with or into
another person, entity or corporation (a “Merger”);

NOW, THEREFORE, in consideration of the payment by Nord to the
Vendors of the sum of Ten Dollars (US$10.00), the receipt and sufficiency of
which is hereby acknowledged by the Vendors, and in consideration of premises,
and of the representations and warranties, covenants and agreements contained
herein, the parties agree as follows:

1.          
The following terms will have the following meanings in this Amendment
Agreement: 

“Conversion Ratio” means the ratio determined as
follows: (i) the per share consideration received by the stockholders of Nord
determined in accordance with a Merger Agreement, divided by (ii) the average of
the closing price per share of the Substitute Shares on the primary trading
market for such shares for the five trading days immediately preceding the date
the Merger Agreement is signed;

“Merger Agreement” means a definitive agreement setting
forth the terms and conditions of a Merger;

“Related Entity” means any parent, ultimate parent, or
subsidiary of the Successor and includes any business, corporation, partnership,
limited liability company or other entity in which the Successor holds a greater
than fifty percent ownership interest, directly or indirectly;

“Substitute Options” means options to purchase
Substitute Shares at the exercise price calculated in accordance with Section 4
of this Amendment;

- 2 -

“Substitute Shares” means shares of common stock in the
Successor or a Related Entity; provided that if the shares of common stock in
any of the Successor or a Related Entity are publicly traded or quoted, the
Substitute Shares shall be the publicly traded or quoted shares in such entity;
and

“Successor” means the surviving or successor corporation
upon completion of a Merger.

2.           
The parties hereto agree that, in the event of the closing of a Merger, each
obligation of Nord under Section 2 of the Property Agreement to either issue
Nord Shares or make a cash payment to each of the Vendors in the amounts and at
the times set forth in the Property Agreement will be satisfied by payment to
each of the Vendors of the greater of: 

(a)           
the cash amount set forth in Section 2 of the Property Agreement; or

(b)           
the value of such number of Substitute Shares as is equal to the number of Nord
Shares set forth in Section 2 of the Property Agreement multiplied by the
Conversion Ratio. For these purposes, value of the Substitute Shares will be
calculated based on the per share closing price of the Substitute Shares on the
primary trading market for such shares on the applicable payment date.

Such payment will be made, at the election of the Successor,
either: (i) in cash; or (ii) by issuance of the number of Substitute Shares
calculated in accordance with subsection 2(b).

3.           
The parties hereto agree that, in the event of the closing of a Merger, each
obligation of Nord under Section 2 of the Property Agreement to issue Nord
Options to each of the Vendors in the amounts and at the times set forth in the
Property Agreement will be satisfied, at the option of the Successor, by
either:

(a)           
issuing to each of the Vendors Substitute Options, in which case the number of
Substitute Options to be issued will equal the number of Nord Options set forth
in Section 2 of the Property Agreement multiplied by the Conversion Ratio;
or

(b)           
paying to each of the Vendors a cash amount equal to the value of the number of
Substitute Options calculated in accordance with subsection 3(a). For these
purposes, value of the Substitute Options will be calculated as the difference
between the per share exercise price of such Substitute Options and the per
share closing price of the Substitute Shares underlying the options on the
primary trading market for such shares on the applicable payment date.

4.           
If Substitute Options are issued pursuant to Section 3(a) of this Amendment, the
exercise price of such options will be 15% below the market value of the
Substitute Shares on the date of issuance, or such other exercise price as may
be required by any laws, rules, regulations or plans governing the terms of
issuance of the Substitute Options.

5.           
The parties hereto agree and acknowledge that the obligations of the Successor
or Related Entity as described herein will be in full substitution of the
payment obligations of Nord under the Property Agreement.

- 3 -

6.           
The parties further agree and acknowledge that the provisions of this Amendment
are conditional upon the completion of a Merger and that, in the event a Merger
is not consummated prior to March 31, 2007, this Amendment will automatically be
cancelled and shall be of no further force or effect, in which case the
provisions of Section 2 of the Property Agreement will continue as set forth
therein without modification or amendment.

7.           
This Amendment shall be governed by and in accordance with the laws of the State
of Arizona.

8.           
This Amendment does not amend or modify any terms of the Property Agreement or
the amendments thereto, except as expressly set forth herein.

9.           
This agreement may be executed in any number of counterparts, each of which
shall be enforceable against the parties actually executing such counterparts,
and all of which together shall constitute one instrument. Delivery of an
executed copy of this agreement by electronic facsimile transmission or other
means of electronic communication capable of producing a printed copy will be
deemed to be execution and delivery of this agreement as of its effective
date.

IN WITNESS WHEREOF the parties have executed this agreement as
  of October 17, 2006

	NORD RESOURCES CORPORATION 	 
	  	  	 
	Per: 	  	 
	  	  	 
	  	/s/ Erland Anderson
    	 
	  	Erland Anderson, Chief Executive Officer 	 
	  	 	 
	THE VENDORS: 	 
	  	 	 
	By: 	/s/ Thornwell Rogers
    	 
	  	Thornwell Rogers 	 
	  	 	 
	  	 	 
	  	 	 
	By 	/s/ Daniel P. Laux
    	 
	  	Daniel P. Laux, Member 	 
	  	South Branch Resources, LLC 	 
	  	 	 
	  	 	 
	  	 	 
	By 	/s/ Michael R. Pawlowski
    	 
	  	Michael R. Pawlowski, Member 	 
	  	MRPGEO, LLC

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