Document:

Exhibit 10.55

 

 

 

 

	October 1, 2015	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. Vancouver BC V6E 2J3 | t (866) 748 1030 f (604) 682 3591 www.uraniumenergy.com NYSE MKT: UEC

 

 

     

     

    

 

 

 

October 1, 2015

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. Vancouver BC V6E 2J3 | t (866) 748 1030 f (604) 682 3591 www.uraniumenergy.com NYSE MKT: UECExhibit 10.65

 

__________

 

 

 

 

 

 

 

 

 

  

Amendment
No. 2 To

Share
Purchase and Option Agreement

 

 

 

 

 

 

 

 

 

 

Between:

 

 

CIC RESOURCES INC.

(as the Vendor)

 

 

And:

 

 

URANIUM ENERGY CORP.

(as the Purchaser)

 

 

 

 

 

 

 

 

 

Uranium Energy Corp.

500 North Shoreline, Suite. 800N, Corpus
Christi, Texas, U.S.A., 78401

___________

 

 

     

     

    

 

Amendment
No. 2 to Share Purchase and Option Agreement

  

THIS AMENDMENT
NO. 2 TO Share Purchase and Option Agreement
(the “Amendment”) is dated and made for reference as fully executed on this 29th day of June, 2017
(the “Execution Date”).

 

BETWEEN:

 

CIC RESOURCES INC., an
exempted company organized and existing under the laws of the Cayman Islands

(the “Vendor”);

OF THE FIRST PART

 

AND:

 

URANIUM ENERGY CORP., a
company organized and existing under the laws of the State of Nevada

(the “Purchaser”).

OF THE SECOND PART

 

(and each of the Vendor and the Purchaser
being hereinafter singularly also referred to as a “Party” and collectively referred to as the “Parties”
as the context so requires).

 

WHEREAS:

 

(A)                          In accordance with the terms and conditions of a certain “Share Purchase and Option Agreement”, dated March
4, 2016, as amended on March 3, 2017, between the Parties (the “Share Purchase and Option Agreement”); a copy
of which Share Purchase and Option Agreement being attached hereto as Schedule “A” and forming a material part hereof;
the Vendor thereby agreed, among other things, to grant to the Purchaser an option to acquire all of the issued and outstanding
shares of CIC Resources (Paraguay) Inc. upon and subject to the terms and conditions set forth in the Share Purchase and Option
Agreement (the “Option”);

 

(B)                           It has now been mutually agreed between the Parties to modify, amend and restate certain terms of the Share Purchase and
Option Agreement including, among other things, with respect to the consideration payable by the Purchaser to the Vendor upon exercise
of the Option; and

 

(C)                           The Parties are now executing this Amendment to record the same and to make certain amendments (as set forth herein) to
the Share Purchase and Option Agreement.

 

     

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THIS AMENDMENT
WITNESSES that, in consideration of the respective covenants and agreements herein contained, the Parties mutually covenant
and agree as follows:

 

Certain Definitions

 

1.Capitalized terms not otherwise herein
defined shall have the meaning ascribed to them in the Share Purchase and Option Agreement.

 

Amendment

 

2.The Share Purchase and Option Agreement
is hereby amended as follows:

 

		(a)	Section 6.2(d) of the Share Purchase and Option Agreement is hereby amended and restated as follows:

 

		“(d)	subject to adjustment pursuant to Section 14, the Purchaser shall issue to the Vendor an aggregate
of 179,002 fully paid and non-assessable common shares of the Purchaser (collectively, the “Option Consideration
Shares”); such number of Option Consideration Shares being a product of US$250,000.00, plus a ten percent premium, divided
by the volume weighted average trading price of the common shares of the Purchaser on the NYSE MKT for the 10 trading days ending
on June 26, 2017 (which was US$1.5363 per Option Consideration Share)”;

 

		(b)	All references to “Option Cash Payment” in the Share Purchase and Option Agreement
shall be replaced with “Option Consideration Shares”;

 

		(c)	Section 6.3 of the Share Purchase and Option Agreement shall be renumbered as Section 6.6;

 

		(d)	The following Sections 6.3, 6.4 and 6.5 shall be added after Section 6.2 of the Share Purchase
and Option Agreement:

 

		“6.3	The Vendor hereby acknowledges and agrees that the Purchaser makes no representations as to any
resale or other restriction affecting the Option Consideration Shares and that it is presently contemplated that the Option Consideration
Shares shall be issued by the Purchaser to the Vendor in reliance upon the registration and prospectus exemptions contained in
certain sections of the Securities Act and/or certain rules and regulations promulgated thereunder and, if applicable, the B.C.
Securities Act, which shall impose a trading restriction in the United States on the Option Consideration Shares for a period of
at least six months from the Acquisition Closing Date.

 

		6.4	The Vendor hereby acknowledges and understands that neither the sale of the Option Consideration
Shares which the Vendor is acquiring nor any of the Option Consideration Shares themselves have been registered under the Securities
Act and, if applicable, the B.C. Securities Act, or any state securities laws, and, furthermore, that the Option Consideration
Shares must be held indefinitely unless subsequently registered under the Securities Act and, if applicable, the B.C. Securities
Act, or an exemption from such registration is available. The Vendor also acknowledges and understands that the certificates representing
the Option Consideration Shares shall be stamped with the following legends (or substantially equivalent language) restricting
transfer in the following manner if such restriction is required by the Governmental Authorities:

 

     

    - 3 - 

    

 

“The securities represented
by this certificate have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities
Act”), or the securities laws of any state of the United States. They may not be sold, offered for sale, pledged or otherwise
transferred except pursuant to an effective registration statement under the U.S. Securities Act and in accordance with any applicable
state securities laws, or pursuant to an exemption or exclusion from registration under the U.S. Securities Act and any applicable
state securities laws. The securities represented by the certificate cannot be the subject of hedging transactions unless such
transactions are conducted in compliance with the U.S. Securities Act.”; and

 

Unless permitted under securities
legislation, the holder of this security must not trade the security before [the date which is four months plus one day from
the date of issuance].”

 

and the Vendor hereby consents
to the Purchaser making a notation on its records or giving instructions to any transfer agent of the Purchaser in order to implement
the restrictions on transfer set forth and described hereinabove.

 

The Vendor
also acknowledges and understands that:

 

		(a)	the Option Consideration Shares are “restricted securities”, as defined in Rule 144(a)(3)
promulgated under the Securities Act;

 

		(b)	the resale safe harbor under Rule 144 shall not be available in any event for at least six months
from the date of issuance of the Option Consideration Shares to the Vendor, and even then shall not be available unless the terms
and conditions of Rule 144 are complied with; and

 

		(c)	any resale of the Option Consideration Shares may be made by the Vendor only in accordance with
such terms and conditions.

 

		6.5	The Purchaser shall make available adequate current public information in accordance with Rule
144(c) under the Securities Act. The Purchaser is not and has never been a “shell company”, as described in Rule 144(i)(1)
under the Securities Act, however, if for any reason the Purchaser is determined to have previously been a “shell company”,
it has satisfied the requirements of Rule 144(i)(2). The Purchaser has not taken any action or failed to take any action that would
make the contemplated exemptions from registration under the Securities Act unavailable for the offer and sale of the Option Consideration
Shares to the Vendor, and shall not take any action or fail to take any action that would make the resale safe harbor under Rule
144 promulgated under the Securities Act unavailable for resales of the Option Consideration Shares.”;

 

     

    - 4 - 

    

 

		(e)	The following Section 11 shall be added after Section 10 of the Share Purchase and Option Agreement:

 

		“11.	REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE VENDOR RESPECTING THE OPTION CONSIDERATION SHARES

 

The Vendor hereby also represents
to, warrants to and covenants with the Purchaser, with the intent that the Purchaser shall also rely thereon in entering into this
Agreement and in concluding the transactions contemplated herein, that:

 

		(a)	the Vendor acknowledges that the Option Consideration Shares shall be issued under certain exemptions
from the registration and prospectus filing requirements otherwise applicable under the Securities Act and, if applicable, the
B.C. Securities Act, and all applicable securities laws, and that, as a result, the Vendor may be restricted from using certain
of the remedies that would otherwise be available to the Vendor, the Vendor shall not receive information that would otherwise
be required to be provided to the Vendor if the Option Consideration Shares were registered under the Securities Act and, if applicable,
the B.C. Securities Act, and the Purchaser is relieved from certain obligations that would otherwise apply to the Purchaser, in
either case, under applicable securities legislation;

 

		(b)	the Vendor has not received, nor has the Vendor requested, nor does the Vendor require that it
receive, any offering memorandum or a similar document describing the business and affairs of the Purchaser in order to assist
the Vendor in entering into this Agreement and in consummating the transactions contemplated herein;

 

		(c)	the Vendor hereby certifies that:

 

		(i)	it is not a U.S. Person (as defined in Rule 902 of Regulation S under the Securities Act, which
definition includes, but is not limited to, any corporation or partnership incorporated or organized under the laws of the United
States);

 

     

    - 5 - 

    

 

		(ii)	it is not acquiring any of the Option Consideration Shares for the account or benefit of any U.S.
Person or a person in the United States or for offering, resale or delivery for the account or benefit of any U.S. Person or for
the account of any person in any jurisdiction other than the jurisdiction as set out for its name and address as set forth in this
Agreement;

 

		(iii)	it was not offered any Option Consideration Shares in the United States and was outside the United
States at the time of execution and delivery of this Agreement;

 

		(iv)	it understands that the Option Consideration Shares have not been registered under the Securities
Act and, if applicable, the B.C. Securities Act, and any applicable securities laws and may not be offered or sold in the United
States or to a U.S. Person unless an exemption from such registration requirements is available;

 

		(v)	it agrees to resell the Option Consideration Shares only in accordance with the provisions of Regulation
S under the Securities Act, pursuant to a registration under the Securities Act, or pursuant to an available exemption from such
registration, and that hedging transactions involving the Option Consideration Shares may not be conducted unless in compliance
with the Securities Act;

 

		(vi)	it shall not engage in any directed selling efforts (as defined by Regulation S under the Securities
Act) in the United States in respect of the Option Consideration Shares, which would include any activities undertaken for the
purpose of, or that could reasonably be expected to have the effect of conditioning the market in the United States for the resale
of the Option Consideration Shares; and

 

		(vii)	it understands that any certificate representing the Option Consideration Shares shall bear a legend
setting forth the foregoing restrictions set out in section 6.4 above, and

 

     

    - 6 - 

    

 

the Vendor shall complete and provide
the Purchaser with an executed copy of the attached form of “Regulation S Certificate”, which is attached as Schedule
“C”, contemporaneously with the Vendor’s execution of this Agreement at or before the Option Closing; and

 

		(d)	the Vendor and the Company are not aware of any fact or circumstance which has not been disclosed
to the Purchaser which should be disclosed in order to prevent the representations and warranties contained in this section from
being misleading or which would likely affect the decision of the Purchaser to enter into this Agreement.”;

 

		(f)	Section 11(f) of the Share Purchase and Option Agreement is hereby amended and restated as follows:

 

		“(f)	all of the Consideration Shares and the Option Consideration Shares issued to the Vendor have been
issued by the Purchaser as duly authorized and issued as fully paid and non-assessable common shares in the capital of the Purchaser
free and clear of all Encumbrances;”;

 

		(g)	Section 11(h) of the Share Purchase and Option Agreement is hereby amended and restated as follows:

 

		“(h)	the Purchaser has obtained all consents, approvals, permits, authorizations or filings as may be
required under applicable securities Laws and the by-laws, rules and regulations of the NYSE MKT necessary to the performance by
the Purchaser of its obligations under this Agreement and (i) on the Acquisition Closing, the Consideration Shares shall be listed
and posted for trading on the NYSE MKT, subject to the satisfaction of customary NYSE MKT conditions; and (ii) on the Option Closing,
the Option Consideration Shares shall be listed and posted for trading on the NYSE MKT, subject to the satisfaction of customary
NYSE MKT conditions;”;

 

		(h)	Section 11(j) of the Share Purchase and Option Agreement is hereby amended and restated as follows:

 

		“(j)	The Purchaser shall make available adequate current public information in accordance with Rule
144(c) under the Securities Act. The Purchaser is not and has never been a “shell company”, as described in Rule 144(i)(1)
under the Securities Act, however, if for any reason the Purchaser is determined to have previously been a “shell company”,
it has satisfied the requirements of Rule 144(i)(2). The Purchaser has not taken any action or failed to take any action that would
make the contemplated exemptions from registration under the Securities Act unavailable for the offer and sale of the Consideration
Shares and the Option Consideration Shares to the Vendor, and shall not take any action or fail to take any action that would make
the resale safe harbor under Rule 144 promulgated under the Securities Act unavailable for the Consideration Shares and the Option
Consideration Shares; and”;

 

     

    - 7 - 

    

 

		(i)	Section 11(k) of the Share Purchase and Option Agreement is hereby amended and restated as follows:

 

		“(k)	the Purchaser has not provided the Vendor with any confidential or material non-public information
concerning the Consideration Shares and the Option Consideration Shares.”;

 

		(j)	Section 14 of the Share Purchase and Option Agreement is hereby amended and restated as follows:

 

“Each Party acknowledges
and agrees that renewal applications have been submitted in accordance with applicable Laws in respect of Block #2 and Block #6
to renew the associated permits and to reduce the size of the property associated with each such block as follows:

 

		(a)	in the case of Block #2, from 70,000 hectares to 25,767 hectares, resulting in reduced estimated
total mining fees, insurance and minimum investment spending in respect of Block #2 of US$86,319 (the “Estimated Block
#2 Fees”); and

 

		(b)	in the case of Block #6, from 41,250 hectares to 9,895 hectares, resulting in reduced estimated
total mining fees, insurance and minimum investment spending in respect of Block #6 of US$33,148 (the “Estimated Block
#6 Fees”).

 

The Vendor agrees that, if the
(i) total mining fees, insurance and minimum investment spending in respect of Block #2 exceeds the Estimated Block #2 Fees, or
(ii) total mining fees, insurance and minimum investment spending in respect of Block #6 exceeds the Estimated Block #6 Fees, then
any amounts exceeding the Estimated Block #2 Fees and the Estimated Block #6 Fees shall become due and payable by the Vendor to
the Purchaser (such aggregate excess amount being the “Shortfall Amount”). If the Shortfall Amount becomes due
and payable (a) prior to the Option Closing, then such Shortfall Amount shall be deducted from the Option Consideration Shares
issuable by the Purchaser pursuant to Section 6.2(d), or (b) after the Option Closing, then such Shortfall Amount shall be paid
by the issuance to the Vendor of such number of fully paid and non-assessable common shares of the Purchaser (collectively, the
“Shortfall Amount Shares”) equal to the product of such Shortfall Amount divided by the volume weighted average
trading price of the common shares of the Purchaser on the NYSE MKT for the 10 trading days ending on June 26, 2017 (which was
US$1.5363 per Shortfall Amount Share). For the purposes of such Shortfall Amount Shares calculation, it is hereby acknowledged
and agreed that such Shortfall Amount equates to US$746,453.36, such that the number of Shortfall Amount Shares would equate to
485,877 Shortfall Amount Shares at the Option Closing.

 

     

    - 8 - 

    

 

Such Shortfall Amount Shares
shall be governed by the same terms and conditions as are applicable to the Option Consideration Shares. The Parties acknowledge
and agree that the payment of the Shortfall Amount by the Vendor shall only apply in respect of the current renewal period and
that the Vendor shall not be required to pay any subsequent mining fees, insurance or minimum investment spending amounts assessed
by any Governmental Authority in respect of Block #2 or Block #6.”; and

 

		(k)	Sections 11 to 24 of the Share Purchase and Option Agreement shall be renumbered as Sections 12
to 25;

 

3.Except as expressly amended hereby,
the Share Purchase and Option Agreement is in all respects ratified and confirmed and all the terms, conditions, and provisions
thereof shall remain in full force and effect as of the date hereof.

 

Effect of Amendment

 

4.This Amendment shall form a part
of the Share Purchase and Option Agreement for all purposes, and each of the Vendor and the Purchaser shall be bound hereby. From
and after the Execution Date of this Amendment by the Parties, any reference to the Share Purchase and Option Agreement shall be
deemed a reference to the Share Purchase and Option Agreement as amended hereby.

 

Entire Agreement

 

5.This Amendment constitutes the entire
agreement between the Parties, and supersedes every previous agreement, communication, expectation, negotiation, representation
or understanding, whether oral or written, express or implied, statutory or otherwise between the Parties, with respect to the
subject matter of this Amendment. Nothing in this Section 5 shall limit or restrict the effectiveness and validity of any document
with respect to the subject matter of this Amendment that is executed and delivered contemporaneously with or pursuant to this
Amendment.

 

Governing Laws

 

6.This Amendment shall be governed
by and construed in accordance with the laws of the Province of British Columbia and the laws of Canada applicable therein and
shall be treated in all respects as a British Columbia contract.

 

Counterparts

 

7.This Amendment may be executed in
any number of counterparts, in original form or by facsimile, each of which shall together, for all purposes, constitute one and
the same instrument, binding on the parties hereto, and each of which shall together be deemed to be an original, notwithstanding
that each party hereto is not a signatory to the same counterpart.

 

     

    - 9 - 

    

 

Headings

 

8.       The
descriptive headings of the several Sections of this Amendment were formulated, used and inserted in this Amendment for convenience
only and shall not be deemed to affect the meaning or construction of any of the provisions hereof.

 

[The remainder of this page left intentionally
blank. The signature page follows.]

 

     

    - 10 - 

    

 

IN WITNESS WHEREOF each of the Parties has set
their respective hands and seals in the presence of their duly authorized signatories as of the Execution Date determined

 

	CIC RESOURCES INC.	 
	 	 
	 	 	 
	Per:	/s/ Adam Spencer	 
	 	Authorized Signatory	 
	 	 	 
	 	 	 
	URANIUM ENERGY CORP.	 
	 	 
	 	 	 
	Per:	/s/ Amir Adnani	 
	 	Authorized Signatory	 

__________

 

     

     

    

 

Schedule A

 

This is Schedule “A”
to that certain Amendment No. 2 to Share Purchase and Option Agreement as entered into between the Vendor (CIC Resources Inc.)
and the Purchaser (Uranium Energy Corp.).

 

Share Purchase and Option Agreement

 

Refer to the copy of the Share Purchase
and Option Agreement attached hereto.

__________

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