Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Nord Resources Corporation - Exhibit 10.4

WAIVER AGREEMENT and
AMENDMENT OF EMPLOYMENT
AGREEMENT

THIS AGREEMENT is made as of the 15th day of
February, 2006.

BETWEEN:

NORD RESOURCES CORPORATION, a
corporation 
organized under the laws of Delaware

(the "Company")

AND:

ERLAND ANDERSON, an adult
individual residing in the 
County of Pima, State of Arizona

(the "Executive") 

WHEREAS

A.      The Company and the
Executive entered into an executive employment agreement dated January 2, 2004
(the “Employment Agreement”) whereby the Executive agreed to act as
President of the Company subject to the terms and conditions set out in the
Employment Agreement;

B.      Given the
completion of the updated 2005 Feasibility Study prepared by Winters, Dorsey and
Company, LLC and the Company’s ongoing efforts to reactivate the Johnson Camp
Mine, it is anticipated that the Company will require a full-time Chief
Operating Officer, as well as a full-time President and Chief Executive
Officer;

C.      The Executive
has agreed to act as executive Vice President and Chief Operating Officer of the
Company under the Employment Agreement, as amended hereby, and resign as
President to allow the board of directors of the Company to appoint Nicholas
Tintor (“Tintor”) as President and Chief Executive Officer;

D.      Section 7 of
the Employment Agreement gives the Executive certain rights in relation to a
Change in Control (as defined in the Employment Agreement) that may be triggered
if the persons who constituted the board of directors of the Company as at
January 2, 2004 cease for any reason to constitute at least a majority of the
board of directors of the Company;

E.      As at January
2, 2004, the board of directors consisted of the Executive, Ronald A. Hirsch and
Stephen D. Seymour; and

F.      The Executive
intends to resign as a director of the Company, and it is anticipated that the
remaining directors will appoint Tintor, John F. Cook, Douglas P. Hamilton and

Wade Nesmith (collectively, the “New Directors”) to fill
the vacancies on the Company’s board of directors.

THIS AGREEMENT WITNESSES that in consideration of the
payment by the Company to the Executive of consideration in the amount of
US$10.00, the receipt and sufficiency of which is hereby acknowledged by the
parties, the Company and the Executive agree as follows:

1.      The Executive
agrees to resign as President of the Company and waive any rights that he may
have against the company pursuant to the Employment Agreement in respect of such
resignation and the appointment of Tintor as President.

2.      The parties
hereby agree that §2 of the Employment Agreement will be renumbered as §2(a) and
the following will be added to the Employment Agreement as §2(b):

“2(b) The Company agrees that the
compensation arrangements payable to the Executive as set out in this Agreement
will be reviewed no later than August 31, 2006.”

3.      The parties
hereby agree to delete §3(a) of the Employment Agreement and substitute the
following:

“3(a) During the Term of Employment,
Executive shall be employed and serve as the Executive Vice President and Chief
Operating Officer, and shall have such duties as are typically associated with
such title. During the Term of Employment, Executive shall report directly to
the Board of Directors.”

4.      The Company
agrees that to the extent that the terms of the Employment Agreement are not
modified by this Agreement, the Employment Agreement will remain in full force
and effect.

5.      The Executive
further agrees to waive the right to terminate the Employment Agreement for Good
Reason pursuant to Section 7(e) of the Employment Agreement, or to terminate the
Employment Agreement following a Change in Control pursuant to Section 7(g) of
the Employment Agreement, as a result of the resignation of the Executive and
the appointment of the New Directors. This waiver shall not apply to any
situation or event other than the resignation of the Executive and the
appointment of the New Directors. 

6.      The parties
acknowledge and agree that they will keep the terms of this Agreement and any
agreements made pursuant hereto confidential and will not disclose or discuss
any details of the same with any third party other than their respective
professional advisors or as required by law.

7.      The Executive
acknowledges that he has had the opportunity to seek and was encouraged by the
Company to seek independent legal advice prior to the execution and 

delivery of this Agreement and that, in the event that he did
not avail himself of that opportunity prior to signing this Agreement, he did so
voluntarily without any undue pressure and agrees that his failure to obtain
independent legal advice shall not be used by him as a defence to the
enforcement of his obligations under this Agreement.

8.      This
Agreement shall be governed by and in accordance with the laws of the State of
Arizona.

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 the day and year first above written.

NORD RESOURCES CORPORATION

	Per:	/s/
      Wade Nesmith 	 
	 	Name: Wade Nesmith 	 
	 	Title: Director 	 
	 	  	 
	 	  	 
	/s/ Erland Anderson 	 
	ERLAND ANDERSONFiled by Automated Filing Services Inc. (604) 609-0244 - Nord Resourcs Corporation - Exhibit 10.5

NORD RESOURCES CORPORATION 
STOCK OPTION

WHEREAS, Erland A. Anderson holds stock options (the “Existing
Options”) entitling him to purchase up to 675,000 shares of common stock of the
Corporation at an exercise price of $0.02 per share, being the market price of
one share of common stock on the date of grant;

WHEREAS, the Corporation is seeking at least $18,000,000 in
financing to facilitate the reactivation of the Johnson Camp Mine;

WHEREAS, the Board of Directors, in consultation with the
Corporation’s financial advisors, has determined that the concentration of the
Existing Options in the hands of an insider of the Corporation, at an exercise
price that is significantly below the current market price of the Corporation’s
common stock, may materially and negatively affect the Corporation’s ability to
seek the required financing on terms that are commercially acceptable to the
Corporation;

WHEREAS, the average closing bid price of the Corporation’s
common stock during the ten trading days ended January 31, 2006 was $0.39 per
share;

WHEREAS Mr. Anderson wishes to help facilitate the
Corporation’s continuing efforts to raise the required financing by voluntarily
surrendering the Existing Options to the Corporation for cancellation, and
receiving in exchange therefor, new options entitling him to purchase up to
675,000 shares of common stock at an exercise price of $0.50 per share;

WHEREAS, Mr. Anderson has disclosed that he is interested in
the transactions contemplated hereby, and has furnished the Board of Directors
with a notice of disclosure of interest;

AND WHEREAS the Board of Directors has approved by Unanimous
Consent the grant of the common share options as listed below.

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NORD RESOURCES CORPORATION, a Delaware corporation (the
"Company"), hereby grants to Erland Anderson ("Optionee"), effective February 1,
2006 ("Date of Grant"), as a separate inducement and agreement in connection
with Optionee's services to the Company and not in lieu of any other
compensation or fees paid to the Optionee for services, the right and option to
purchase 675,000 shares of Common Stock of the Company ("Shares") at the
purchase price of U.S.$0.50 per Share (the "Option").

The Option is granted upon the
following terms:

	 	1. 	
      Subject to subparagraph 4 below, the Option shall expire
      at the close of business on February 1, 2011

	 	 	 
	 	2. 	
      The Option is exercisable at any time, in whole or in
      part, subject to the provisions of subparagraphs 3 and 4 below.

	 	 	 
	 	3. 	
      The Optionee shall vest 100% immediately.

	 	 	 
	 	4. 	
      In the event Optionee dies or becomes permanently
      disabled, the Option may be exercised within two (2) years after the date
      of death or permanent disability by the person or persons (including the
      Optionee's estate) to whom the Optionee's rights under the Option shall
      have passed by will or by the laws of descent and distribution or by the
      Optionee or his or personal representatives, as the case may be. Under no
      circumstances, however, may the Option be exercised after the expiration
      date of the Option specified in subparagraph 1 above.

	 	 	 
	 	5. 	
      The Option may not be assigned, transferred, pledged or
      otherwise encumbered by Optionee other than by will or the laws of descent
      and distribution; the Option may not be subject to execution, attachment,
      or similar process; and the Option may be exercised during the lifetime of
      Optionee only by Optionee.

	 	 	 
	 	6. 	
      Payment for all Shares purchased to exercise the Option
      shall be made in cash or by certified check, money order or by personal
      check (if approved by the Board of Directors). In lieu of a check, the
      Optionee may, with the approval of the Board of Directors in its sole
      discretion,

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      submit certificates for stock of the Company tendered as
      full or partial payment of the option exercise price. Certificates for
      stock tendered must be endorsed or accompanied by signed stock powers with
      the signature guaranteed by the commercial bank or trust company or by a
      brokerage firm acceptable to the Company. Stock tendered in payment will
      be valued at its fair market value on the date of exercise of the Option.
      Any deficiency in the option exercise price shall be paid by certified
      check. Such payment shall be made at the time that the Option or any part
      thereof is exercised and no Shares shall be issued or delivered until full
      payment therefor has been made.

	 	 	 
	 	7. 	
      If and to the extent that the number of issued shares of
      common stock of the Company shall be increased or reduced by change in par
      value, split up, reclassification, distribution of a dividend payable in
      stock or the like, the number of shares subject to the Option and the
      option price per share shall be proportionately adjusted. If the Company
      shall be involved in any merger or consolidation, recapitalization,
      reclassification of shares or similar reorganization, the holder of this
      Option shall be entitled to purchase, at the same times and upon the same
      terms and conditions as are then provided in this Option, the number and
      class of shares of stock or other securities to which a holder of the
      number of shares of stock subject to this Option at the time of such
      transaction would have been entitled to receive as a result of such
      transaction. Except as expressly provided in this Section 7, the holder of
      this Option shall have no rights by reason of any subdivision or
      combination of shares of stock of any class or the payment of any stock
      dividend or any other increase or decrease in the number of shares of
      stock or any class or by reason of any dissolution, liquidation, merger or
      consolidation or distribution to the Company's shareholders of assets or
      stock of another corporation. Except as expressly provided herein, any
      issue by the Company of shares of stock of any class, or securities
      convertible into shares of stock of any class, shall not affect, and no
      adjustment by reason thereof shall be made with respect to, the number or
      price of Shares of stock subject to this Option.

	 	 	 
	 	8. 	
      Optionee shall have no rights as a stockholder with
      respect to the Option until payment of the option price and delivery to
      him of the Shares as herein provided.

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	 	9. 	 This Option Agreement shall be governed by and construed
        in accordance with the laws of Delaware, without giving effect to principals
        of conflict of laws.

	 	 	 
	 	10. 	 Neither this Option Agreement nor the Shares are registered
        under the Securities Act of 1933, as amended. This Option is subject to
        the condition that if at any time the listing, registration or qualification
        of the Shares covered by this Option upon any securities exchange or under
        any state or federal law is necessary or desirable as a condition of or
        in connection with the purchase or delivery of Shares hereunder, the delivery
        of any or all Shares pursuant to this Option may be withheld unless and
        until such listing, registration or qualification shall have been effected.
        If a registration statement is not in effect under the Securities Act
        of 1933 or any applicable state securities laws with respect to the Shares
        purchasable or otherwise deliverable under this Option, the Company may
        require, as a condition of exercise of this Option, that the Optionee
        represent, in writing, that the Shares received pursuant to this Option
        are being acquired for investment and not with a view to distribution
        and agree that the Shares will not be disposed of except pursuant to an
        effective registration statement, unless the Company shall have received
        an opinion of counsel that such disposition is exempt from such requirement
        under the Securities Act of 1933 and any applicable state securities laws.
        The Company may endorse on certificates representing Shares delivered
        pursuant to this Option such legends referring to the foregoing representations
        or restrictions or any other applicable restrictions on resale as the
        Company, in its discretion, shall deem appropriate.

	 	 	 
	 	11. 	 This Option Agreement shall inure to the benefit of
        and be binding upon the parties hereto and their respective heirs, executors,
        administrators, successors and assigns.

IN WITNESS WHEREOF, the Company has executed this Option
as of the 1st day of February, 2006.

[SIGNATURES TO APPEAR ON THE FOLLOWING PAGE]

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NORD RESOURCES CORPORATION

By:           
  /s/ John T. Perry                         
  

  John T. Perry
Senior Vice President and Chief Financial Officer

	ATTEST: 	 
	  	 
	  	 
	/s/ Kathy
    Glidewell	 
	Kathy Glidewell 	 
	Assistant Secretary 	 

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