Document:

Exhibit
10.2

EXECUTION
AGREEMENT

COMPANY
SUPPORT AGREEMENT

This
Company Support Agreement (this “Agreement”) is dated as of September 25, 2022, by and among GX Acquisition Corp.
II, a Delaware corporation (“GX”), NioCorp Developments Ltd., a company incorporated under the laws of the Province
of British Columbia (the “Company”), and the shareholders of the Company set forth on Schedule I hereto (the
“Company Shareholders”). Capitalized terms used but not otherwise defined herein shall have the respective meanings
ascribed to such terms in the Business Combination Agreement.

RECITALS

WHEREAS,
as of the date hereof, each Company Shareholder is a “beneficial owner” (within the meaning of Rule 13d-3 under the Securities
Exchange Act of 1934, as amended (the “Exchange Act”)) of the common shares in the capital of the Company identified
on Schedule I attached hereto as being beneficially owned by such Company Shareholder (such shares, the “Company Shares”);

WHEREAS,
contemporaneously with the execution and delivery of this Agreement, GX, the Company and Big Red Merger Sub Ltd, a Delaware corporation
and a direct, wholly owned subsidiary of the Company (“Merger Sub”), entered into a Business Combination Agreement
(as amended or modified from time to time, the “Business Combination Agreement”) pursuant to which, among other transactions,
(i) Merger Sub will merge with and into GX, with GX surviving the merger, (ii) the Company will purchase all shares of Class A common
stock of GX as the surviving corporation of such merger (other than the shares of Class A common stock then held by the Company) in exchange
for Company Common Shares, (iii) all shares of GX Class A common stock will be transferred by the Company to 0896800 B.C. Ltd., a company
organized under the laws of the Province of British Columbia and a direct wholly owned subsidiary of the Company (“Intermediate
Holdco”) in exchange for additional shares of Intermediate Holdco, and (iv) Elk Creek Resources Corporation, a Nebraska corporation
and a direct wholly owned subsidiary of Intermediate Holdco, will merge with and into GX, with GX surviving (collectively, and together
with the other transactions contemplated by the Business Combination Agreement and the Ancillary Agreements, the “Transactions”);

WHEREAS,
Mark A. Smith (“Smith”), as lender, and the Company, as borrower, have entered into a credit facility agreement dated
January 16, 2017, providing for a non-revolving credit facility in the amount of up to $3,500,000 expiring on June 30, 2023 (as amended,
the “Smith Credit Agreement”);

WHEREAS,
Smith and the Company have entered into a general security agreement dated June 17, 2015 securing, among others, the obligations of the
Company under the Smith Credit Agreement (the “Smith GSA”);

WHEREAS,
in connection with the execution by the Company of the Business Combination Agreement, the Company has asked that Smith (i) waive certain
Events of Default (as defined in the Smith Credit Agreement) and/or “defaults” (as defined in the Smith GSA) which have occurred
or may occur, in each case, in connection with the Transactions, (ii) waive such other applicable rights (to acceleration or otherwise)
under the Smith Credit Agreement and the

    	 	 	 

    	 

    

Smith
GSA, in each case, with respect to the Transactions, and (iii) provide its consent and approval, if required, in connection with the
Transactions and the entering into by the Company of the Business Combination Agreement and each of the applicable Ancillary Agreements;
and

WHEREAS,
as an inducement to GX and the Company to enter into the Business Combination Agreement and to consummate the Transactions, the parties
hereto desire to agree to certain matters as set forth herein.

AGREEMENT

NOW,
THEREFORE, in consideration of the foregoing and the mutual agreements contained herein, and intending to be legally bound hereby, the
parties hereto agree as follows:

ARTICLE
I

SUPPORT AGREEMENT; COVENANTS

Section
1.1            No Transfer. During the period commencing on the date hereof
and ending on the earliest of (a) the Second Merger Effective Time, (b) such date and time as the Business Combination Agreement has
been terminated in accordance with its terms (the earlier of (a) and (b), the “Support Expiration Time”) and (c) the
liquidation of GX, each Company Shareholder shall not (i) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant
any option to purchase or otherwise dispose of or agree to dispose of (each, a “Transfer”), directly or indirectly,
file (or participate in the filing of) a registration statement with the SEC (other than the Joint Proxy Statement and Form S-4) or establish
or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Exchange
Act, with respect to any Company Shares owned by such Company Shareholder, (ii) enter into any swap or other arrangement that transfers
to another, in whole or in part, any of the economic consequences of ownership of any shares of Company Shares owned by such Company
Shareholder, or grant or enter into any proxy (except in accordance with this Agreement), voting trust or other agreement or arrangement
with respect to the voting of any Company Shares owned by such Company Shareholder, or (iii) publicly announce any intention to effect
any transaction specified in clause (i) or (ii); provided, however, that the foregoing restrictions will not apply to (A)
a Company Shareholder’s transfer to an officer or director of the Company or any affiliate or family member of any of the Company’s
officers or directors; (B) a Company Shareholder’s transfer to a member of such Company Shareholder’s immediate family, a
trust, the beneficiary of which is a member of such Company Shareholder’s immediate family, an affiliate of such Company Shareholder
or a charitable organization; (C) a transfer by virtue of laws of descent and distribution upon death of such Company Shareholder; (D)
a transfer pursuant to a qualified domestic relations order; or (E) a transfer to satisfy tax withholding obligations in connection with
the exercise of rights to purchase Company Shares or the vesting of stock-based awards, including without limitation, sell-to-cover transactions
(each, a “Permitted Transfer”); provided, however, that, prior to and as a condition to the effectiveness
of any Permitted Transfer, the transferee shall have executed and delivered to GX a joinder or counterpart of this Agreement pursuant
to which such transferee shall be bound by all of the applicable terms and provisions of this Agreement. Any Transfer of any Company
Shares in violation of any provision of this Agreement shall be void ab initio and of no force or effect.

    	 	2	 

    	 

    

 

Section
1.2            New Shares. In the event that (a) any Company Shares or
other equity securities of the Company are issued to a Company Shareholder after the date of this Agreement pursuant to any stock dividend,
stock split, recapitalization, reclassification, combination, exchange of shares or other similar event of Company Shares of, on or affecting
the Company Shares owned by such Company Shareholder or otherwise, (b) a Company Shareholder purchases or otherwise acquires beneficial
ownership of any Company Shares or other equity securities of the Company after the date of this Agreement (including without limitation
upon the exercise or settlement of options or other equity-based awards), or (c) a Company Shareholder purchases or otherwise acquires
the right to vote or share in the voting of any Company Shares or other equity securities of the Company after the date of this Agreement
(such Company Shares or other equity securities of the Company, collectively the “New Securities”), then such New
Securities acquired or purchased by, or otherwise issued to, such Company Shareholder shall be subject to the terms of this Agreement
to the same extent as if they constituted the Company Shares owned by such Company Shareholder as of the date hereof.

Section
1.3            Closing Date Deliverables. On the Closing Date, the Company
Shareholders shall deliver to GX and the Company a duly executed copy of the Registration Rights and Lock-Up Agreement.

Section
1.4            Company Shareholder Agreements. At any meeting of the shareholders
of the Company, however called, or at any adjournment thereof, or in any other circumstance in which the vote, consent or other approval
of the shareholders of the Company is sought, each Company Shareholder shall (i) appear at each such meeting or otherwise cause all of
his or her Company Shares to be counted as present thereat for purposes of calculating a quorum and (ii) vote (or cause to be voted),
or execute and deliver a written consent (or cause a written consent to be executed and delivered) covering, all of his or her Company
Shares:

		(a)	in
                                            favor of each Company Resolution and any other matter necessary for the consummation of the
                                            Transactions;
	 	 	 
	 	(b)	against
                                            any (i) merger agreement, merger, amalgamation, arrangement or other Acquisition Proposal
                                            (in each case, other than the Business Combination Agreement and the Transactions) or (ii)
                                            consolidation, combination, sale of substantial assets, reorganization, recapitalization,
                                            dissolution, liquidation or winding up of or by the Company;

		(c)	against
                                            any change in the business, management or board of directors of the Company (other than in
                                            connection with the Company Resolutions); and

		(d)	against
                                            any proposal, action or agreement that would (i) impede, frustrate, prevent or nullify any
                                            provision of this Agreement, the Business Combination Agreement or the Transactions, (ii)
                                            result in a breach of any covenant, representation, warranty or any other obligation or agreement
                                            of the Company under the Business Combination Agreement, (iii) result in any of the conditions
                                            set forth in Article VI of the Business Combination Agreement not being fulfilled, or (iv)
                                            change in any manner the dividend

    	 	3	 

    	 

    

			policy
                                            or capitalization of, including the voting rights of any class of shares of, the Company
                                            (other than in connection with the Company Resolutions).

Section
1.5            Further Assurances. Each Company Shareholder shall take,
or cause to be taken, all actions and do, or cause to be done, all things reasonably necessary under applicable Laws to consummate the
Transactions on the terms and subject to the conditions set forth therein and herein. Without limiting the foregoing, no later than five
Business Days prior to any meeting of the shareholders of the Company, each Company Shareholder shall deliver or cause to be delivered
to the Company duly executed proxies or voting instruction forms voted in accordance with the terms hereof, such proxy or voting instruction
forms not to be revoked or withdrawn without the prior written consent of GX. Prior to a Company Recommendation
Change, no Company Shareholder will communicate with any shareholder of the Company in a manner inconsistent with the Company Board recommendation
in favor of the Transactions and the Business Combination Agreement.

Section
1.6            No Inconsistent Agreement. Each Company Shareholder represents
and covenants that such Company Shareholder has not entered into, and shall not enter into, any agreement, or amend or modify any existing
agreement, that would restrict, limit or interfere with the performance of such Company Shareholder’s obligations hereunder.

Section
1.7            Binding Effect of Business Combination Agreement. Each Company
Shareholder shall be bound by and comply with Section 5.2 and Section 5.8 of the Business Combination Agreement as if (a) such Company
Shareholder was an original signatory to the Business Combination Agreement with respect to such provision and (b) each reference to
“the Company” in Section 5.2 and Section 5.8 of the Business Combination Agreement also referred to each Company Shareholder.
Nothing in this Agreement is intended to restrict a Company Shareholder’s discretion to act (including, for the avoidance of doubt,
Smith), when acting in his or her capacity as an officer or director of the Company, in a manner consistent with all fiduciary obligations
imposed on such Company Shareholder in that capacity, subject to and in accordance with the Business Combination Agreement. For greater
certainty, the obligations of a Company Shareholder hereunder to vote in favor of the Company Resolutions and not take any actions inconsistent
with that support are intended to apply to such Company Shareholder only in his or her capacity as a holder of securities of the Company
and not in such Company Shareholder’s capacity as an officer or director of the Company, and any such actions taken by a Company
Shareholder in such capacity shall not constitute a breach or violation of this Agreement.

Section
1.8            Tax Treatment. Each party hereto agrees to report the Transactions
in all cases in accordance with the Intended Tax Treatment except, and then solely to the extent, otherwise required by a final determination
under applicable Law.

ARTICLE
II

REPRESENTATIONS AND WARRANTIES

Section
2.1            Representations and Warranties of the Company Shareholders.
Each Company Shareholder represents and warrants as of the date hereof to GX and the Company

    	 	4	 

    	 

    

(solely
with respect to himself or herself and not with respect to any other Company Shareholder) as follows:

(a)         
Organization; Due Authorization. Such Company Shareholder has full legal capacity, right and authority to execute and deliver
this Agreement and to perform his or her obligations hereunder. This Agreement has been duly executed and delivered by such Company Shareholder
and, assuming due authorization, execution and delivery by the other parties to this Agreement, this Agreement constitutes a legally
valid and binding obligation of such Company Shareholder, enforceable against such Company Shareholder in accordance with the terms hereof
(subject to the Enforceability Exceptions). If this Agreement is being executed in a representative or fiduciary capacity, the Person
signing this Agreement has full power and authority to enter into this Agreement on behalf of the applicable Company Shareholder.

(b)         
Ownership. Such Company Shareholder is the beneficial owner (as defined in the Securities Act) of, and has good title to, all
of such Company Shareholder’s Company Shares, and there exist no Liens or any other limitation or restriction (including any restriction
on the right to vote, sell or otherwise dispose of such Company Shares (other than transfer restrictions under the Securities Act)) or
preemptive or other right or privilege for the purchase, acquisition or transfer from such Company Shareholder affecting any such Company
Shares, other than Liens pursuant to (i) this Agreement, (ii) the organizational documents of the Company, (iii) the Business Combination
Agreement, or (iv) any applicable securities Laws. As of the date of this Agreement, such Company Shareholder’s Company Shares
are the only equity securities in the Company owned beneficially by such Company Shareholder or over which such Company Shareholder has
voting control or direction, and none of such Company Shareholder’s Company Shares are subject to any proxy, voting trust or other
agreement or arrangement with respect to the voting of such Company Shares. Other than any options to purchase Company Shares, such Company
Shareholder does not hold or own any rights to acquire (directly or indirectly) any equity securities of the Company or any equity securities
convertible into, or which can be exchanged for, equity securities of the Company.

(c)              
No Conflicts. The execution and delivery of this Agreement by such Company Shareholder does not, and the performance by such Company
Shareholder of his or her obligations hereunder will not require any consent or approval that has not been given or other action that
has not been taken by any Person (including under any contract binding upon such Company Shareholder or such Company Shareholder’s
Company Shares), in each case, to the extent such consent, approval or other action would prevent, enjoin or materially delay the performance
by such Company Shareholder of his or her obligations under this Agreement.

(d)              
Litigation. There are no Actions pending against such Company Shareholder, or to the knowledge of such Company Shareholder threatened
against such Company Shareholder, before (or, in the case of threatened Actions, that would be before) any arbitrator or any Governmental
Entity, which in any manner challenges or seeks to prevent, enjoin or materially delay the performance by such Company Shareholder of
his or her obligations under this Agreement.

(e)              
Brokerage Fees. Except as set forth on Section 3.24 of the Company Disclosure Letter, no broker, finder, investment banker or
other Person is entitled to any brokerage

    	 	5	 

    	 

    

fee,
finders’ fee or other commission in connection with the Transactions upon arrangements made by such Company Shareholder, for which
the Company or any of its Affiliates may become liable.

(f)               
Acknowledgment. Such Company Shareholder understands and acknowledges that each of GX and the Company is entering into the Business
Combination Agreement in reliance upon such Company Shareholder’s execution and delivery of this Agreement.

(g)              
Disclosure. Each of the undersigned hereby consents to the disclosure of this Agreement and the terms and conditions hereof in
any press release or other documents filed pursuant to applicable securities laws in connection with the Business Combination Agreement
or the Transactions.

ARTICLE
III

Consent and Waiver

Section
3.1            Consent and Waiver(a). Smith hereby consents to and confirms
that (in each case, to the extent required pursuant to the Smith Credit Agreement or the Smith GSA):

(a)              
The Company shall be permitted to enter into the Business Combination Agreement and each of the Ancillary Agreements to which it is a
party, to consummate the Transactions and any Contemplated Financing;

(b)         
The Company shall be permitted to do, or cause to be done, all such acts and things as may be deemed necessary or desirable by the Company
in order to implement the Transactions, enter into definitive documentation with respect to, and consummate, any Contemplated Financing;
and

(c)              
Any Event of Default (as defined in the Smith Credit Agreement) or “default” (as defined in the GSA), applicable right to
acceleration, or breach or event of noncompliance which have occurred or may occur, in each case, in connection with the Transactions
and any Contemplated Financing, is hereby waived.

(d)              
The waiver and consent hereby granted shall be effective only with respect to the matters referred to above and not with respect to any
other events, facts or circumstances, and Smith shall be entitled to assert and exercise in good faith all rights and powers granted
to him under the Smith Credit Agreement and Smith GSA in respect of any such other events, facts or circumstances.

ARTICLE
IV

MISCELLANEOUS

Section
4.1            Termination. This Agreement and all of its provisions shall
terminate and be of no further force or effect upon the earliest of (a) the Support Expiration Time and (b) the written agreement of
the Company Shareholders, GX and the Company. Upon a termination of this Agreement all obligations of the parties under this Agreement
or such provisions, as applicable, will terminate, without any liability or other obligation on the part of any

    	 	6	 

    	 

    

party
hereto to any Person in respect hereof or the transactions contemplated hereby, and no party hereto shall have any claim against another
(and no Person shall have any rights against such party), whether under contract, tort or otherwise, with respect to the subject matter
hereof; provided, however, that the termination of this Agreement or any provision hereof shall not relieve any party hereto
from liability arising in respect of any breach of this Agreement prior to such termination. This ARTICLE IV shall survive the
termination of this Agreement.

Section
4.2            Governing Law; Venue; Waiver of Jury Trial.

(a)         
This Agreement will be construed and enforced in accordance with the Laws of the State of Delaware, without regard to the conflict of
laws principles that would result in the application of any Law other than the Law of the State of Delaware.

(b)         
Each of the parties hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction and venue
of the Court of Chancery of the State of Delaware (or, to the extent that such Court does not have subject matter jurisdiction, the Superior
Court of the State of Delaware) or, if it has or can acquire jurisdiction, in the United States District Court for the District of Delaware
(collectively, the “Chosen Courts”), in any proceeding arising out of or relating to this Agreement or the agreements
delivered in connection herewith or the Transactions or for recognition or enforcement of any judgment relating thereto, and each of
the parties hereby irrevocably and unconditionally (i) agrees not to commence any such proceeding, except in the Chosen Courts;
(ii) agrees that any claim in respect of any such proceeding may be heard and determined in the Chosen Courts; (iii) waives,
to the fullest extent it may legally and effectively do so, any objection that it may now or hereafter have to the laying of venue of
any such proceeding in the Chosen Courts; and (iv) waives, to the fullest extent permitted by Law, the defense of an inconvenient
forum to the maintenance of such proceeding in the Chosen Courts. Each of the parties agrees that a final judgment in any such proceeding
shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by applicable
Law. Each party irrevocably consents to service of process inside or outside the territorial jurisdiction of the Chosen Courts the manner
provided for notices in Section 4.7. Nothing in this Agreement will affect the right of any party to this Agreement to serve
process in any other manner permitted by applicable Law.

(c)         
EACH PARTY HEREBY IRREVOCABLY WAIVES, AND WILL CAUSE ITS SUBSIDIARIES AND AFFILIATES TO WAIVE, ANY AND ALL RIGHTS TO TRIAL BY JURY IN
ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS.

Section
4.3            Assignment. This Agreement will be binding upon and inure
to the benefit of the parties and their respective successors, legal representatives and permitted assigns. No party may assign any of
its rights or delegate any of its obligations under this Agreement, by operation of Law or otherwise, without the prior written consent
of the other Party.

Section
4.4            Specific Performance. The parties agree that irreparable
damage for which monetary damages, even if available, would not be an adequate remedy, would occur in the event that the parties do not
perform their obligations under the provisions of this Agreement (including failing to take such actions as are required of them hereunder
to consummate this

    	 	7	 

    	 

    

Agreement)
in accordance with its specified terms or otherwise breach such provisions. Subject to the other provisions of this Section 4.4,
the parties acknowledge and agree (and further agree not to take any contrary position in any litigation concerning this Agreement) that
(a) the parties will be entitled to an injunction or injunctions, specific performance, or other equitable relief, to prevent breaches
of this Agreement and to enforce specifically the terms and provisions hereof without proof of damages or otherwise, and that such relief
may be sought in addition to and will not limit, diminish or otherwise impair, any other remedy to which they are entitled under this
Agreement, (b) the provisions set forth herein are not intended to and do not adequately compensate for the harm that would result
from a breach of this Agreement and will not be construed to limit, diminish or otherwise impair in any respect any party’s right
to specific enforcement, and (c) the right of specific enforcement is an integral part of the Transactions and without that right,
none of the parties would have entered into this Agreement. The parties acknowledge and agree that any party seeking an injunction or
injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement in accordance
with this Section 4.4 will not be required to provide any bond or other security in connection with any such order or injunction.

Section
4.5            Amendment. This Agreement may not be amended, changed, supplemented,
waived or otherwise modified or terminated, except upon the execution and delivery of a written agreement executed by GX, the Company
and the Company Shareholders.

Section
4.6            Severability. The provisions of this Agreement will be deemed
severable and the invalidity or unenforceability of any provision will not affect the validity or enforceability of the other provisions
hereof. If any provision of this Agreement, or the application thereof to any Person or any circumstance, is invalid or unenforceable,
then (a) a suitable and equitable provision will be substituted therefor in order to carry out, so far as may be valid and enforceable,
the intent and purpose of such invalid or unenforceable provision and (b) the remainder of this Agreement and the application of
such provision to other Persons or circumstances will not be affected by such invalidity or unenforceability, nor will such invalidity
or unenforceability affect the validity or enforceability of such provision, or the application thereof, in any other jurisdiction.

Section
4.7            Notices. All notices and other communications among the
parties will be in writing and will be deemed to have been duly given (a) when delivered in person, (b) when delivered by FedEx
or other nationally recognized overnight delivery service, or (c) when delivered by email (so long as the sender of any such e-mail
has not received an e-mail from the applicable server indicating a delivery failure), in each case, according to the instructions set
forth below. Such notices will be deemed given: at the time of personal delivery, if delivered in person; one (1) Business Day after
being sent, if sent by reputable, overnight delivery service and at the time sent (so long as the sender of any such e-mail has not received
an e-mail from the applicable server indicating a delivery failure), if sent by email prior to 5:00 p.m. local time of the recipient
on a Business Day; or on the next Business Day if sent by email after 5:00 p.m. local time of the recipient on a Business Day or on a
non-Business Day.

If
to GX:

GX
Acquisition Corp. II

    	 	8	 

    	 

    

1325
Avenue of the Americas, 28th Floor

New
York, New York 10019

	 	Attention:
	Jay Bloom
	 	 	Dean
Kehler
	 	Email:	jay.bloom@trimarancapital.com
	 	 	dean.kehler@trimarancapital.com

 

with
a copy to (which will not constitute notice):

 

Skadden, Arps, Slate, Meagher & Flom LLP

One Manhattan West

New York, New York 10001

	 	Attention:	Michael Chitwood
	 	 	Michael Civale
	 	Email:	Michael.Chitwood@skadden.com
	 	 	Michael.Civale@skadden.com

 

If
to a Company Shareholder:

 

To
such Company Shareholder’s address set forth in Schedule I

with
a copy to (which will not constitute notice):

Jones
Day

250
Vesey Street

New
York, NY 10281

	 	Attention:
	Joel May
	 	 	Ann
Bomberger
	 	Email:
	jtmay@jonesday.com
	 	 	ambomberger@jonesday.com

                 

If
to the Company:

NioCorp
Developments Ltd.

7000
South Yosemite Street, Suite 115

Centennial,
CO 80112

	 	Attention:
	Mark Smith
	 	 	
Neal Shah
	 	Email:
	msmith@niocorp.com
	 	 	nshah@niocorp.com

 

with
copies to (which shall not constitute notice):

 

Jones
Day

250
Vesey Street

New
York, NY 10281

	 	Attention:
	Joel May
	 	 	Ann
Bomberger

                    

    	 	9	 

    	 

    

	 	Email:
	jtmay@jonesday.com
	 	 	ambomberger@jonesday.com

 

and
to

 

Blake,
Cassels & Graydon LLP

2600 – 595 Burrard Street

Vancouver, BC V7X 1L3

Attention:Bob Wooder

E-mail:bob.wooder@blakes.com

 

Section
4.8            Counterparts. This Agreement may be executed in any number
of counterparts (including by pdf or other readable electronic format), each such counterpart being deemed to be an original instrument,
with the same effect as if the signature thereto and hereto were upon the same instrument, and will become effective when one or more
counterparts have been signed by each of the parties and delivered (including by email or DocuSign) to the other parties, and all such
counterparts will together constitute one and the same agreement.

Section
4.9            Entire Agreement. This Agreement and the agreements referenced
herein constitute the entire agreement, and supersede all other prior agreements, understandings, representations and warranties both
written and oral, among the parties, with respect to the subject matter hereof.

Section
4.10        No Third-Party Beneficiaries. The representations, warranties and covenants set
forth herein are solely for the benefit of the other parties, in accordance with and subject to the terms of this Agreement, and this
Agreement is not intended to, and does not, confer upon any Person other than the parties hereto any rights or remedies hereunder, including
the right to rely upon the representations and warranties set forth herein; provided that GX Sponsor II LLC is an intended third-party
beneficiary of, and may enforce, GX’s rights under this Agreement.

[THE
REMAINDER OF THIS PAGE IS INTENTIONALLY BLANK]

    	 	10	 

    	 

    

IN
WITNESS WHEREOF, the Company Shareholders, GX and the Company have each caused this Agreement to be duly executed as of the date first
written above.

 

	 	COMPANY
    SHAREHOLDERS:
	 	 
	 	/s/
    Mark A. Smith
	 	Name: Mark
    A. Smith
	 	 
	 	 
	 	/s/
    Neal Shah
	 	Name: Neal
    Shah
	 	 
	 	 
	 	/s/
    Scott Honan
	 	Name:Scott
    Honan
	 	 
	 	 
	 	/s/
    Jim Sims
	 	Name:Jim
    Sims
	 	 
	 	 
	 	/s/
    Michael Morris
	 	Name:Michael
    Morris
	 	 
	 	 
	 	/s/
    David Beling
	 	Name:David
    Beling
	 	 
	 	 
	 	/s/
    Anna Castner Wightman
	 	Name:Anna
    Castner Wightman
	 	 	 	 
	 	 	 	 

 

    		[Signature Page to Company Support Agreement]	 

    	 

    

 

	 	GX:
	 	 
	 	 
	 	GX ACQUISITION
    CORP. II
	 	 
	 	 
	 	By:  	/s/
    Dean Kehler
	 	 	Name:  Dean Kehler  
	 	 	Title:    Co-Chairman and Chief Executive Officer  
	 	 	 	 

 

 

    		[Signature Page to Company Support Agreement]	 

    	 

    

 

		COMPANY:
	 	 
	 	NIOCORP DEVELOPMENTS
    LTD.
	 	 
	 	 
	 	By:  	/s/
    Mark Smith
	 	 	Name:  Mark Smith  
	 	 	Title:    Chief Executive Officer  
	 	 	 	 

 

 

    		[Signature Page to Company Support Agreement]	 

    	 

    

Schedule
I

 

Company
Shares

 

	Company
    Shareholder	Company
    Shares
	Mark
                                            A. Smith

    c/o
    NioCorp Developments Ltd.

    7000
    South Yosemite Street, Suite 115

    Centennial,
    CO 80112
	19,565,395
	Neal
                                            Shah

    c/o
    NioCorp Developments Ltd.

    7000
    South Yosemite Street, Suite 115

    Centennial,
    CO 80112
	401,000
	Scott
                                            Honan

    c/o
    NioCorp Developments Ltd.

    7000
    South Yosemite Street, Suite 115

    Centennial,
    CO 80112
	365,042
	Jim
                                            Sims

    c/o
    NioCorp Developments Ltd.

    7000
    South Yosemite Street, Suite 115

    Centennial,
    CO 80112
	390,826
	Michael
                                            Morris

    c/o
    NioCorp Developments Ltd.

    7000
    South Yosemite Street, Suite 115

    Centennial,
    CO 80112
	310,876
	David
                                            Beling

    c/o
    NioCorp Developments Ltd.

    7000
    South Yosemite Street, Suite 115

    Centennial,
    CO 80112
	589,255
	Anna
                                            Castner Wightman

    c/o
    NioCorp Developments Ltd.

    7000
    South Yosemite Street, Suite 115

    Centennial,
    CO 80112
	295,620

 

    		[Schedule I to Company Support Agreement]Exhibit 10.3

EXECUTION VERSION

EMPLOYMENT
AGREEMENT

THIS EMPLOYMENT AGREEMENT,
by and between Elk Creek Resources Corporation, a Nebraska corporation, with its principal place of business located at 386 Broadway,
P.O. Box 506, Tecumseh, NE 68450, and any successor entity thereto (the “Company”), and Neal Shah (“Executive”),
is dated as of the 25th day of September, 2022 (the “Agreement”).

WHEREAS, the Company wishes
to continue to employ Executive on the terms and conditions, and for the consideration, hereinafter set forth, and Executive desires to
continue to be employed by the Company on such terms and conditions and for such consideration; and

WHEREAS, concurrently with
this Agreement, Executive is receiving a copy of the Restrictive Covenant Agreement attached hereto as Exhibit A (the “Restrictive
Covenant Agreement”) which includes a covenant not to compete that could restrict Executive’s options with respect to
subsequent employment following the termination of Executive’s employment from the Company (or an affiliate thereof); and

WHEREAS, Executive shall
have a period of fifteen (15) days from the date of this Agreement to review and execute the Restrictive Covenant Agreement.

NOW THEREFORE, in consideration
of the promises provided for in this Agreement, the Company and Executive agree as follows:

1.       Employment
Period. Subject to Executive’s execution of the Restrictive Covenant Agreement prior to the Effective Date (as defined below),
this Agreement shall become effective upon the closing of the transactions contemplated by that certain Business Combination Agreement
(the “Business Combination Agreement”), dated September 25, 2022, by and among GX Acquisition Corp. II, a Delaware
corporation (“GX”), NioCorp Developments Ltd., a company organized under the laws of the Province of British Columbia
(“NioCorp”), and Big Red Merger Sub Ltd, a Delaware corporation and a direct wholly owned subsidiary of NioCorp (such
date, the “Effective Date”). Except as otherwise provided in Section 3 of this Agreement, the Company hereby
agrees to continue to employ Executive, and Executive hereby agrees to continue to be employed by the Company, on an at-will basis on
the terms and conditions set forth herein for the period commencing on the Effective Date and ending on Executive’s Date of Termination
(as defined in Section 3(f)) (the “Employment Period”).

2.       Terms
of Employment.

(a)       Position
and Duties.

(i)       During
the Employment Period, Executive shall (A) serve as the Chief Financial Officer of NioCorp with such duties and responsibilities as are
customarily commensurate with or incident to such position for an entity similar in size to, and in a business similar to that of, NioCorp,
(B) report to the Chief Executive Officer of NioCorp, and (C) perform Executive’s services at the Company’s principal place
of business in Centennial, Colorado (subject to reasonable travel requirements commensurate with Executive’s position).

      

     

    

(ii)       During
the Employment Period, and excluding any periods of vacation and sick leave to which Executive is entitled, Executive agrees to devote
Executive’s full business time and attention to the business and affairs of the Company. During the Employment Period, it will not
be a violation of this Agreement for Executive to (A) serve on civic or charitable boards or committees, (B) deliver lectures, fulfill
speaking engagements or teach at educational institutions and (C) manage personal investments, so long as such activities described in
clauses (A), (B) and (C) do not significantly interfere with the performance of Executive’s responsibilities as an employee
of the Company in accordance with this Agreement. Executive shall not during the Employment Period serve as a director or executive of
another corporation without the prior written approval of the Chief Executive Officer of NioCorp.

(b)       Compensation.

(i)       Base
Salary. During the Employment Period, Executive shall receive an annual base salary (“Annual Base Salary”) of $220,000
paid in accordance with the normal payroll practices of the Company as may be in effect from time to time, which Annual Base Salary shall
be reviewed for increase at least annually.

(ii)       Employee
Benefits. During the Employment Period, Executive shall be eligible to participate in the employee benefit plans, programs, and policies,
as may be in effect from time to time, for senior executives of the Company generally, including, but not limited to, any annual cash
bonus plan and/or any annual long-term incentive compensation program as may be established by the Company.

(iii)       Expenses.
During the Employment Period, Executive shall be entitled to receive prompt reimbursement for all reasonable expenses incurred by Executive
in accordance with the performance of Executive’s duties under this Agreement and in accordance with the Company’s business
expense reimbursement policy.

3.       Termination
of Employment.

(a)       Death
or Disability. Executive’s employment shall terminate automatically if Executive dies during the Employment Period. If the Company
determines in good faith that the Disability (as defined herein) of Executive has occurred during the Employment Period (pursuant to the
definition of “Disability” set forth below), it may give to Executive written notice in accordance with Section
13(b) of its intention to terminate Executive’s employment. In such event, Executive’s employment with the Company shall
terminate effective on the thirtieth (30th) day after receipt of such notice by Executive (the “Disability Effective
Date”), provided that, within the thirty (30) days after such receipt, Executive shall not have returned to full-time performance
of Executive’s duties. “Disability” means the absence of Executive from Executive’s duties with the Company
on a full-time basis for ninety (90) consecutive business days, or ninety (90) business days during any period of one hundred and twenty
(120) consecutive business days, as a result of

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incapacity due to mental or physical illness
that is determined to be total and permanent by a physician selected by the Company or its insurers and acceptable to Executive or Executive’s
legal representative (such agreement as to acceptability not to be unreasonably withheld).

(b)       By
the Company. The Company may terminate Executive’s employment during the Employment Period for any, or no reason, with or without
Cause. For purposes of this Agreement, “Cause” will be deemed to exist upon:

(i)       any
use or misappropriation by Executive of the funds, assets or property of the Company, its parent, an affiliate or a subsidiary for any
personal or other improper purpose;

(ii)       any
act of moral turpitude, dishonesty, fraud by or felony conviction of Executive whether or not such acts were committed in connection with
the business of the Company, an affiliate or a subsidiary;

(iii)       any
failure by Executive substantially to perform the lawful instructions of the person(s) to whom Executive reports (other than as a result
of total or partial incapacity due to physical or mental illness) following written notice by the Company to Executive of such failure
and fifteen (15) days within which to cure such failure;

(iv)       any
willful or gross misconduct by Executive in connection with Executive’s duties to the Company which, in the reasonable good faith
judgment of the Board of Directors of NioCorp, could reasonably be expected to be materially injurious to the financial condition or business
reputation of the Company, its subsidiaries or affiliates;

(v)       any
failure by Executive to follow a material Company policy;

(vi)       any
material breach by Executive of this Agreement; or

(vii)       any
breach by Executive of the Restrictive Covenant Agreement.

(c)       By
Executive. Executive’s employment may be terminated during the Employment Period by Executive for any reason.

(d)       Notice
of Termination. Any termination of employment by the Company for Cause shall be communicated by Notice of Termination to Executive
given in accordance with Section 13(b) of this Agreement. “Notice of Termination” means a written notice that
(i) indicates the specific termination provision in this Agreement relied upon, (ii) to the extent applicable, sets forth in reasonable
detail the facts and circumstances claimed to provide a basis for termination of Executive’s employment under the provision so indicated,
and (iii) if the Date of Termination (as defined herein) is other than the date of receipt of such notice, specifies the Date of Termination
(which Date of Termination shall be not more than thirty (30) days after the giving of such notice). The failure by the Company to set
forth in the Notice of Termination any fact or circumstance that contributes to a showing of Cause shall not waive any right the Company
hereunder or preclude the Company from asserting such fact or circumstance in enforcing the Company’s rights hereunder.

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(e)       Resignation.
Upon any termination of Executive’s employment with the Company for any reason, Executive agrees to resign, as of the date of such
termination and to the extent applicable, as an officer of the Company and/or any of the Company’s subsidiaries and other affiliates.

(f)       Date
of Termination. “Date of Termination” means: (i) if Executive’s employment is terminated by the Company for
Cause, the date of receipt of the Notice of Termination or such later date specified in the Notice of Termination, as the case may be,
(ii) if Executive’s employment is terminated by the Company other than for Cause or Disability, the date on which the Company notifies
Executive of such termination, (iii) if Executive resigns, the date on which Executive notifies the Company of such termination, and (iv)
if Executive’s employment is terminated by reason of death or Disability, the date of Executive’s death or the Disability
Effective Date, as the case may be. Notwithstanding the foregoing, in no event shall the Date of Termination occur until Executive experiences
a “separation from service” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”),
and the date on which such separation from service takes place shall be the “Date of Termination.”

4.       Obligations
of the Company upon Termination.

(a)       By
the Company other than for Cause, Death or Disability. If, during the Employment Period, the Company terminates Executive’s
employment without Cause (other than due to death or Disability), and Section 4(b) does not apply:

(i)       The
Company shall pay to Executive, in a lump sum in cash within thirty (30) days after the Date of Termination (or earlier, if required by
applicable law), the aggregate of the following amounts: the sum of: (A) Executive’s Annual Base Salary through the Date of Termination
to the extent not theretofore paid; (B) Executive’s business expenses that are reimbursable pursuant to Section 2(b)(iii)
of this Agreement but have not been reimbursed by the Company as of the Date of Termination; and (C) any accrued and unused vacation
pay or paid time off to the extent not theretofore paid (the sum of the amounts described in subclauses (A), (B), and (C), the
“Accrued Obligations”);

(ii)       Subject
to Section 4(e) and Section 10(b), the Company shall continue to pay Executive the Annual Base Salary as in effect at the
time of such termination for a period of twelve (12) months following such termination in accordance with the Company’s normal payroll
practices; and

(iii)       To
the extent not theretofore paid or provided, the Company shall timely pay or provide to Executive any Other Benefits (as defined in Section
5) in accordance with the terms of the underlying plans or agreements.

Other than as set forth in this
Section 4(a), in the event of a termination of Executive’s employment by the Company without Cause (other than due to death
or Disability) and Section 4(b) does not apply, the Company shall have no further obligation to Executive under this Agreement.

 

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(b)       Termination
in Connection With a Change in Control. If, during the Employment Period, the Company terminates Executive’s employment without
Cause (other than due to death or Disability) or Executive terminates employment for Good Reason (as defined below), in each case, within
a period of two years after a Change in Control (as defined below) (such termination hereinafter referred to as a “Change
in Control Termination”):

(i)       The
Company shall pay to Executive, in a lump sum in cash within thirty (30) days after the Date of Termination, subject to Section 10(b),
the Accrued Obligations;

(ii)       Subject
to Section 10(b), on the sixty-first (61st) day after the Date of Termination, the Company shall, subject to Section
4(e), pay to Executive a lump sum cash amount equal to two (2) times Executive’s Annual Base Salary as in effect at the time
of such termination (without regard to any reduction thereto); and

(iii)       To
the extent not theretofore paid or provided, the Company shall timely pay or provide to Executive any Other Benefits (as defined in Section
5) in accordance with the terms of the underlying plans or agreements.

Other than as set forth in this Section 4(b),
in the event of a termination of Executive’s employment by the Company without Cause (other than due to death or Disability) (and
Section 4(a) does not apply) or by Executive for Good Reason, in each case, within a period of two (2) years after a Change in Control,
the Company shall have no further obligation to Executive under this Agreement.

 

(c)       Death
or Disability. If Executive’s employment is terminated by reason of Executive’s death or Disability during the Employment
Period, the Company shall provide Executive or, in the event of death, Executive’s estate or beneficiaries, with the Accrued Obligations
and the timely payment or delivery of the Other Benefits in accordance with the terms of the underlying plans or agreements, and shall
have no further obligations under this Agreement. The Accrued Obligations shall be paid to Executive or, in the event of death, Executive’s
estate or beneficiaries, in a lump sum in cash within thirty (30) days of the applicable Date of Termination.

(d)       Cause;
Other than for Good Reason Following a Change in Control. If Executive’s employment is terminated for Cause during the Employment
Period, the Company shall provide Executive with Executive’s Annual Base Salary through the Date of Termination, and the timely
payment or delivery of the Other Benefits in accordance with the terms of the underlying plans or agreements, and shall have no further
obligations under this Agreement. If Executive voluntarily terminates employment for any reason (other than for Good Reason within two
(2) years after a Change in Control as provided in Section 4(b)) during the Employment Period, the Company shall provide to
Executive the Accrued Obligations and the timely payment or delivery of the Other Benefits in accordance with the terms of the underlying
plans or agreements, and shall have no further obligations under this Agreement. In such case, all the Accrued Obligations shall be paid
to Executive in a lump sum in cash within thirty (30) days of the Date of Termination.

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(e)       Release.
Notwithstanding anything herein to the contrary, the Company shall not be obligated to make any payment under Sections 4(a)(ii) or
4(b)(ii) of this Agreement unless (i) prior to the sixtieth (60th) day following the Date of Termination, Executive executes
a release of claims against the Company and its affiliates in a form provided by the Company (the “Release”), and (ii)
any applicable revocation period has expired during such sixty (60)-day period without Executive revoking such Release.

(f)       Definition
of Change in Control. For purposes of this Agreement, a “Change in Control” will be deemed to have occurred upon the occurrence
(after the Effective Date) of any transaction that constitutes a “change in ownership,” a “change in effective control,”
or a “change in the ownership of a substantial portion of the assets” of the Company under Section 409A(a)(2)(A)(v) of the
Code.

(g)       Definition
of Good Reason. For purposes of this Agreement, “Good Reason” shall mean, in the absence of the prior written consent
of Executive:

		(i)	a material reduction of Executive’s Annual Base Salary;

		(ii)	relocation of Executive’s primary workplace, as assigned to Executive by the Company in accordance
with Section 2(a)(i)(C) beyond a 50 mile radius from such workplace; or

		(iii)	any other material breach by the Company of this Agreement;

provided, however,
that Executive’s termination of employment shall not be deemed to be for Good Reason unless (A) Executive has notified the Company
in writing describing the occurrence of one or more Good Reason events within ninety (90) days of such occurrence, (B) the Company fails
to cure such Good Reason event within thirty (30) days after its receipt of such written notice and (C) the termination of employment
occurs within one hundred and eighty (180) days after the occurrence of the applicable Good Reason event.

5.       Non-Exclusivity
of Rights. Amounts that Executive is otherwise entitled to receive under any plan, policy, practice or program of or any other contract
or agreement with the Company at or subsequent to the Date of Termination (“Other Benefits”) shall be payable in accordance
with such plan, policy, practice or program or contract or agreement, except as explicitly modified by this Agreement. Notwithstanding
the foregoing, Executive shall not be eligible to participate in any other severance plan, program or policy of the Company.

6.       Set-off;
No Mitigation. The Company’s obligation to make the payments provided for in this Agreement and otherwise to perform its obligations
hereunder shall be subject to set-off, counterclaim, recoupment, defense, or other claim, right or action that the Company may have against
Executive to the extent such set-off or other action does not violate Section 409A of the Code. In no event shall Executive be obligated
to seek other employment or take any other action by way of mitigation of the amounts payable to Executive under any of the provisions
of this Agreement; provided, however, that it is expressly understood that the Company’s payment

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obligations under Sections 4(a)(ii) and
4(b)(ii) of this Agreement shall cease in the event Executive breaches any of the terms contained in the Restrictive Covenant Agreement.

7.       Limitations
on Payments Under Certain Circumstances. Notwithstanding any provision of any other plan, program, arrangement or agreement to the
contrary, in the event that it shall be determined that any payment or benefit to be provided by the Company to Executive pursuant to
the terms of this Agreement or any other payments or benefits received or to be received by Executive (a “Payment”)
in connection with or as a result of any event which is deemed by the U.S. Internal Revenue Service or any other taxing authority to constitute
a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the assets of the Company
and subject to the tax (the “Excise Tax”) imposed by Section 4999 (or any successor section) of the Code, the Payments,
whether under this Agreement or otherwise, shall be reduced so that the Payment, in the aggregate, is reduced to the greatest amount that
could be paid to Executive without giving rise to any Excise Tax; provided that in the event that Executive would be placed in a better
after-tax position after receiving all Payments and not having any reduction of Payments as provided hereunder, Executive shall, notwithstanding
the provisions of any other plan, program, arrangement or agreement to the contrary, receive all Payments and pay any applicable Excise
Tax. All determinations under this Section 7 shall be made by a nationally recognized accounting firm selected by the Company (the
“Accounting Firm”). Without limiting the generality of the foregoing, any determination by the Accounting Firm under
this Section 7 shall take into account the value of any reasonable compensation for services to be rendered by Executive (or for
holding oneself out as available to perform services and refraining from performing services (such as under a covenant not to compete)).
If the Payments are to be reduced pursuant to this Section 7, the Payments shall be reduced in the following order: (a) Payments
which do not constitute “nonqualified deferred compensation” subject to Section 409A of the Code shall be reduced first; and
(b) all other Payments shall then be reduced, in each case as follows: (i) cash payments shall be reduced before non-cash payments and
(ii) payments to be made on a later payment date shall be reduced before payments to be made on an earlier payment date.

8.       Successors.

(a)       This
Agreement is personal to Executive and without the prior written consent of the Company shall not be assignable by Executive otherwise
than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of, and be enforceable by, Executive’s
legal representatives.

(b)       This
Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns. As set forth in the preamble,
as used in this Agreement, “Company” shall mean the Company as hereinbefore defined and any successor to its business and/or
assets as aforesaid which assumes and agrees to perform this Agreement by operation of law, or otherwise.

9.       Indemnification.
The Company shall indemnify Executive to the maximum extent permitted under applicable law for acts taken within the scope of Executive’s
employment and Executive’s service as an officer or director of the Company or any of its subsidiaries or affiliates. To the extent
that the Company obtains coverage under a director and officer indemnification

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policy, Executive will be entitled to such
coverage on a basis that is no less favorable than the coverage provided to any other officer or director of the Company.

10.       Section
409A of the Code.

(a)       The
intent of the parties is that payments and benefits under this Agreement comply with, or be exempt from, Section 409A of the Code and
the regulations and guidance promulgated thereunder (collectively “Section 409A”) and, accordingly, to the maximum
extent permitted, this Agreement shall be interpreted to be in compliance therewith.

(b)       Notwithstanding
any provision of this Agreement to the contrary, in the event that Executive is a “specified employee” within the meaning
of Section 409A (as determined in accordance with the methodology established by the Company as in effect on the Date of Termination)
(a “Specified Employee”), any payments or benefits that are considered non-qualified deferred compensation under Section
409A payable under this Agreement on account of a “separation from service” during the six-month period immediately following
the Date of Termination shall, to the extent necessary to comply with Section 409A, instead be paid, or provided, as the case may be,
on the first business day after the date that is six months following Executive’s “separation from service” within the
meaning of Section 409A. For purposes of Section 409A, Executive’s right to receive any installment payments pursuant to this Agreement
shall be treated as a right to receive a series of separate and distinct payments. In no event may Executive, directly or indirectly,
designate the calendar year of any payment to be made under this Agreement that is considered nonqualified deferred compensation, subject
to Section 409A.

(c)       With
regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits that are deferred compensation
subject to Section 409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another
benefit, (ii) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable year shall not affect
the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year and (iii) such payments shall be
made on or before the last day of Executive’s taxable year following the taxable year in which the expense occurred.

11.       Compensation
Recovery Policy. Notwithstanding anything in this Agreement to the contrary, Executive acknowledges and agrees that this Agreement
and any compensation described herein are subject to the terms and conditions of the Company’s clawback policy (if any) as may be
in effect from time to time, including specifically to implement Section 10D of the Securities Exchange Act of 1934, as amended, and any
applicable rules or regulations promulgated thereunder (including applicable rules and regulations of any national securities exchange
on which the shares of the Company’s common stock may be traded) (the “Compensation Recovery Policy”), and that
applicable sections of this Agreement and any related documents shall be deemed superseded by and subject to the terms and conditions
of the Compensation Recovery Policy from and after the effective date thereof.

12.       Complete
Agreement. This Agreement sets forth the entire agreement of the parties hereto in respect of the subject matter contained herein,
and supersedes all prior agreements, promises, covenants, arrangements, communications, representations or warranties, whether oral

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or written, by any officer, employee or representative
of any party hereto in respect of the subject matter contained herein.

13.       Miscellaneous.

(a)       This
Agreement shall be governed by and construed in accordance with the laws of the State of Colorado, without reference to principles of
conflict of laws. Executive agrees that the state and federal courts located in the State of Colorado shall have jurisdiction in any action,
suit or proceeding against Executive based on or arising out of this Agreement and Executive hereby: (i) submits to the personal jurisdiction
of such courts; (ii) consents to service of process in connection with any action, suit or proceeding against Executive; and (iii) waives
any other requirement (whether imposed by statute, rule of court or otherwise) with respect to personal jurisdiction, venue or service
of process. The captions of this Agreement are not part of the provisions hereof and shall have no force or effect. This Agreement may
not be amended or modified otherwise than by a written agreement executed by the parties hereto or their respective successors and legal
representatives.

(b)       All
notices and other communications hereunder shall be in writing and shall be given by hand delivery to the other party or by registered
or certified mail, return receipt requested, or nationally-recognized overnight courier service, postage prepaid, addressed as follows:

If to Executive:                     At
the most recent address

on file at the Company.

If to the Company:              7000
South Yosemite Street, Suite 115

Centennial, CO 80112

 

or such other address as either party shall
have furnished to the other in writing in accordance herewith (including via electronic mail). Notice and communications shall be effective
when actually received by the addressee.

(c)       The
invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision
of this Agreement.

(d)       The
Company, its subsidiaries and affiliates may withhold from any amounts payable under this Agreement such Federal, state, local or foreign
taxes or social security charges as shall be required to be withheld pursuant to any applicable law or regulation. None of the Company,
its subsidiaries or affiliates guarantees any tax result with respect to payments or benefits provided hereunder. Executive is responsible
for all taxes owed with respect to all such payments and benefits.

(e)       Subject
to any limits on applicability contained therein, the Restrictive Covenant Agreement shall survive and continue in full force in accordance
with its terms notwithstanding any termination or expiration of the Employment Period.

(f)       During
Executive’s employment with the Company and thereafter, Executive will provide reasonable assistance to the Company in litigation
and regulatory matters that relate to events that occurred during Executive’s period of employment with the Company and its

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predecessors, and will provide reasonable assistance
to the Company with matters relating to its corporate history from the period of Executive’s employment with it or its predecessors.  Executive
will be entitled to reimbursement of reasonable out-of-pocket travel or related costs and expenses relating to any such cooperation or
assistance that occurs following the Date of Termination.

(g)       This
Agreement may be executed in several counterparts, each of which shall be deemed to be an original but all of which together will constitute
one and the same instrument.

(h)Executive’s
or the Company’s failure to insist upon strict compliance with any provision of this Agreement or the failure to assert any right
Executive or the Company may have hereunder shall not be deemed to be a waiver of such provision or right or any other provision or right
of this Agreement.

(i)       With
respect to any controversy or claim arising out of or relating to or concerning injunctive relief for Executive’s breach or purported
breach of the Restrictive Covenant Agreement, the Company shall have the right, in addition to any other remedies it may have, to seek
specific performance and injunctive relief with a court of competent jurisdiction, without the need to post a bond or other security.

14.       Other
Acknowledgements. Nothing in this Agreement prevents Executive from providing, without prior notice to the Company, information to
governmental authorities regarding possible legal violations or otherwise testifying or participating in any investigation or proceeding
by any governmental authorities regarding possible legal violations.

[Remainder of page intentionally left blank]

 

      

     

    

 

IN WITNESS WHEREOF, Executive and the Company
have executed this Agreement on the date first above written.

EXECUTIVE

 

 

/s/ Neal Shah____________________________

Neal Shah

 

ELK CREEK RESOURCES
CORPORATION

 

By /s/ Mark Smith________________________

Name: Mark Smith

Title: Chief Executive Officer

  

 

      

     

    

Exhibit A

Restrictive Covenant Agreement

(See attached.)

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