<SEC-DOCUMENT>0001078782-18-000240.txt : 20180227
<SEC-HEADER>0001078782-18-000240.hdr.sgml : 20180227
<ACCEPTANCE-DATETIME>20180227161245
ACCESSION NUMBER:		0001078782-18-000240
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180221
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180227
DATE AS OF CHANGE:		20180227

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SIGMA LABS, INC.
		CENTRAL INDEX KEY:			0000788611
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS MANUFACTURING INDUSTRIES [3990]
		IRS NUMBER:				820404220
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38015
		FILM NUMBER:		18645227

	BUSINESS ADDRESS:	
		STREET 1:		3900 PASEO DEL SOL
		CITY:			SANTE FE
		STATE:			NM
		ZIP:			87507
		BUSINESS PHONE:		(505) 438-2576

	MAIL ADDRESS:	
		STREET 1:		3900 PASEO DEL SOL
		CITY:			SANTE FE
		STATE:			NM
		ZIP:			87507

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FRAMEWAVES INC
		DATE OF NAME CHANGE:	20010130

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MESSIDOR LTD
		DATE OF NAME CHANGE:	20010122
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k022118_8k.htm
<DESCRIPTION>FORM 8K CURRENT REPORT
<TEXT>
<HTML>
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<HEAD>
<TITLE>Form 8K Current Report</TITLE>
</HEAD>
<BODY>
<DIV style=margin-left:36pt;width:540pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>UNITED STATES</FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>SECURITIES AND EXCHANGE COMMISSION</FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>WASHINGTON, D.C. 20549</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:12pt Times New Roman;margin:0'><B>FORM 8-K</B></P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>CURRENT REPORT PURSUANT</FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>TO SECTION 13 OR 15(d) OF THE</FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>SECURITIES EXCHANGE ACT OF 1934</FONT></P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>Date of report (Date of earliest event reported): February 21, 2018</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:14pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'><B>SIGMA LABS, INC.</B></FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>(Exact Name of Registrant as Specified in Charter)</FONT></P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<TABLE align=center style=border-collapse:collapse><TR style=height:7.2pt><TD valign=top style='width:135.9pt;border-bottom:0.5pt solid #000000'><P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt><B>Nevada</B></FONT></P>
</TD><TD valign=top style=width:13.5pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style='width:180pt;border-bottom:0.5pt solid #000000'><P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt><B>001-38015</B></FONT></P>
</TD><TD valign=top style=width:13.5pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style='width:135.9pt;border-bottom:0.5pt solid #000000'><P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt><B>27-1865814</B></FONT></P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style='width:135.9pt;border-top:0.5pt solid #000000'><P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>(State or Other</FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>Jurisdiction of</FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>Incorporation</FONT></P>
</TD><TD valign=top style=width:13.5pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style='width:180pt;border-top:0.5pt solid #000000'><P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>(Commission File Number)</FONT></P>
</TD><TD valign=top style=width:13.5pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style='width:135.9pt;border-top:0.5pt solid #000000'><P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>(IRS Employer</FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>Identification No.)</FONT></P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style=width:135.9pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:13.5pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:180pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:13.5pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:135.9pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR style=height:7.2pt><TD colspan=5 valign=top style='width:478.8pt;border-bottom:0.5pt solid #000000'><P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt><B>3900 Paseo del Sol, Santa Fe, New Mexico 87507</B></FONT></P>
</TD></TR>
<TR style=height:7.2pt><TD colspan=5 valign=top style='width:478.8pt;border-top:0.5pt solid #000000'><P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>(Address of Principal Executive Offices) (Zip Code)</FONT></P>
</TD></TR>
<TR style=height:7.2pt><TD colspan=5 valign=top style=width:478.8pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR style=height:7.2pt><TD colspan=5 valign=top style='width:478.8pt;border-bottom:0.5pt solid #000000'><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR style=height:7.2pt><TD colspan=5 valign=top style='width:478.8pt;border-top:0.5pt solid #000000'><P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>(Former Name or Former Address, if Changed Since Last Report)</FONT></P>
</TD></TR>
<TR style=height:7.2pt><TD colspan=5 valign=top style=width:478.8pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR style=height:7.2pt><TD colspan=5 valign=top style=width:478.8pt><P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>Registrant&#8217;s telephone number, including area code: (505) 438-2576</FONT></P>
</TD></TR>
<TR style=height:7.2pt><TD colspan=5 valign=top style=width:478.8pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
</TABLE>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>[ &nbsp;&nbsp;] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>[ &nbsp;&nbsp;] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>[ &nbsp;&nbsp;] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>[ &nbsp;&nbsp;] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>Emerging growth company [ &nbsp;&nbsp;]</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ &nbsp;&nbsp;]</FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt> </FONT>&nbsp;</P>
<HR style='border:0;height:0;margin:14pt 0 0 0'><P align=center style='font:10pt Times New Roman;margin:0'>1</P>
<HR style='page-break-after:always;border:0;height:3pt;background-color:#909090;margin:8pt 0'><P style='font:10pt Times New Roman;margin:0;text-indent:-45pt;margin-left:45pt'><FONT style=font-size:10pt><B>Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. </B></FONT></P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><FONT style=font-size:10pt>As previously disclosed, on September 18, 2017, Sigma Labs, Inc. (&#8220;we,&#8221; &#8220;our,&#8221; &#8220;us&#8221; or the &#8220;Company&#8221;) and Ronald Fisher, the Company&#8217;s Vice President of Business Development, entered into Amendment No. 1 to Mr. Fisher&#8217;s Employment Offer Letter Agreement, effective August 10, 2015, pursuant to which, effective as of February 11, 2017, item 2, entitled &#8220;Performance Bonuses,&#8221; of Exhibit A of Mr. Fisher&#8217;s Employment Offer Letter Agreement was deleted in its entirety and replaced with the new item 2 that was set forth in the amendment to Employment Offer Letter Agreement. Such amendment provided that Mr. Fisher would become entitled to receive performance-based stock and cash bonuses if certain milestones were satisfied by February 11, 2018, so long as Mr. Fisher remained an employee of the Company as of the date the applicable milestone was satisfied. On February 21, 2018, the Company and Mr. Fisher entered into Amendment No. 2 to Mr. Fisher&#8217;s Employment Offer Letter Agreement, pursuant to which the February 11, 2018 date referred to in the immediately preceding sentence was extended to December 31, 2018. No other changes to Mr. Fisher&#8217;s Employment Offer Letter Agreement were made pursuant to this amendment. </FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><FONT style=font-size:10pt>Amendment No. 2 to Employment Offer Letter Agreement is filed hereto as Exhibit 10.1 and is incorporated into this Item 5.02 by reference. The foregoing description of Amendment No. 2 to Employment Offer Letter Agreement is qualified in its entirety by reference to the full text of Amendment No. 2 to Employment Offer Letter Agreement.</FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style='position:absolute;font:10pt Times New Roman'><FONT style=font-size:10pt><B>Item 9.01</B></FONT></KBD><KBD style=margin-left:72pt></KBD><FONT style=font-size:10pt><B>Financial Statements and Exhibits. </B></FONT>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style='position:absolute;font:10pt Times New Roman'><FONT style=font-size:10pt>(d)</FONT></KBD><KBD style=margin-left:36pt></KBD><FONT style=font-size:10pt>Exhibits.</FONT>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<TABLE style=border-collapse:collapse;width:563.4pt><TR style=height:7.2pt><TD valign=top style='width:99.9pt;border-bottom:0.5pt solid #000000'><P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt><B>Exhibit Number</B></FONT></P>
</TD><TD valign=top style=width:13.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style='width:450pt;border-bottom:0.5pt solid #000000'><P style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt><B>Description</B></FONT></P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style='width:99.9pt;border-top:0.5pt solid #000000'><P align=center style='font:10pt Times New Roman;margin:0'><A href=f8k022118_ex10z1.htm style=text-decoration:none><FONT style='font-size:10pt;color:#0000FF;border-bottom:1px solid #0000FF'>10.1</FONT></A></P>
</TD><TD valign=top style=width:13.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style='width:450pt;border-top:0.5pt solid #000000'><P align=justify style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>Amendment No. 2, dated February 21, 2018, to Employment Offer Letter Agreement between the Company and Ronald Fisher.</FONT></P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style=width:99.9pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:13.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:450pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
</TABLE>
<HR style='border:0;height:0;margin:14pt 0 0 0'><P align=center style='font:10pt Times New Roman;margin:0'>2</P>
<HR style='page-break-after:always;border:0;height:3pt;background-color:#909090;margin:8pt 0'><P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt><B>SIGNATURE</B></FONT></P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><FONT style=font-size:10pt>Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<TABLE style=border-collapse:collapse><TR style=height:7.2pt><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>February 27, 2018</FONT></P>
</TD><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>SIGMA LABS, INC.</FONT></P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'><KBD style='position:absolute;font:10pt Times New Roman'><FONT style=font-size:10pt>By:</FONT></KBD><KBD style=margin-left:36pt></KBD><FONT style='font-size:10pt;border-bottom:1px solid #000000'><I>/s/ John Rice</I></FONT>&nbsp;</P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'><KBD style='position:absolute;font:10pt Times New Roman'><FONT style=font-size:10pt>Name:</FONT></KBD><KBD style=margin-left:36pt></KBD><FONT style=font-size:10pt>John Rice</FONT>&nbsp;</P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'><KBD style='position:absolute;font:10pt Times New Roman'><FONT style=font-size:10pt>Title:</FONT></KBD><KBD style=margin-left:36pt></KBD><FONT style=font-size:10pt>Interim Chief Executive Officer</FONT>&nbsp;</P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
</TABLE>
<HR style='border:0;height:0;margin:14pt 0 0 0'><P align=center style='font:10pt Times New Roman;margin:0'>3</P>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>f8k022118_ex10z1.htm
<DESCRIPTION>EXHIBIT 10.1 AMENDMENT NO. 2, DATED FEBRUARY 21, 2018, TO EMPLOYMENT OFFER LETTER AGREEMENT BETWEEN THE COMPANY AND RONALD FISHER.
<TEXT>
<HTML>
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<HEAD>
<TITLE>Exhibit 10.1 Amendment No. 2, dated February 21, 2018, to Employment Offer Letter Agreement between the Company and Ronald Fisher.</TITLE>
</HEAD>
<BODY>
<DIV style=margin-left:36pt;width:540pt><HR style='border:0;height:0;margin:14pt 0 0 0'><P align=center style='font:10pt Times New Roman;margin:0'><B>AMENDMENT NO. 2 TO EMPLOYMENT OFFER LETTER AGREEMENT </B></P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>This Amendment No. 2 to Employment Offer Letter Agreement (this &#8220;<FONT style='border-bottom:1px solid #000000'>Amendment</FONT>&#8221;) is made as of February 21, 2018, by and between Sigma Labs, Inc., a Nevada corporation (the &#8220;<FONT style='border-bottom:1px solid #000000'>Company</FONT>&#8221;), and Ron Fisher (the &#8220;<FONT style='border-bottom:1px solid #000000'>Employee</FONT>&#8221;), with reference to the following facts: </P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>WHEREAS, the Company and the Employee are parties to an employment offer letter agreement, effective August 10, 2015, as amended by Amendment No. 1 thereto (as so amended, the &#8220;<FONT style='border-bottom:1px solid #000000'>Employment Letter</FONT>&#8221;); and</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>WHEREAS, the Company and the Employee wish to amend the Employment Letter as provided in this Amendment.</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>NOW, THEREFORE, in consideration of the foregoing and other consideration, the receipt and sufficiency of which hereby are acknowledged, the Company and the Employee hereby agree as follows:</P>
<P style='font:10pt Times New Roman;margin:0;margin-left:45pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;margin-left:45pt'><KBD style='position:absolute;font:10pt Times New Roman'>1.</KBD><KBD style=margin-left:27pt></KBD>Item 2, entitled &quot;Performance Bonuses,&quot; of Exhibit A of the Employment Letter is hereby amended to replace the &quot;February 11, 2018&quot; reference therein with &quot;December 31, 2018.&quot; &nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;margin-left:45pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;margin-left:45pt'><KBD style='position:absolute;font:10pt Times New Roman'>2.</KBD><KBD style=margin-left:27pt></KBD>Except as expressly amended by this Amendment, all of the terms of the Employment Letter shall remain in full force and effect.&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;margin-left:45pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>IN WITNESS WHEREOF, the Company and the Employee have executed this Amendment as of the date first set forth above.</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<TABLE align=center style=border-collapse:collapse;width:497.4pt><TR style=height:7.2pt><TD valign=top style=width:252.9pt><P style='font:10pt Times New Roman;margin:0'>SIGMA LABS, INC.</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:244.5pt><P style='font:10pt Times New Roman;margin:0'>RON FISHER</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style=width:252.9pt><P style='font:10pt Times New Roman;margin:0'><KBD style='position:absolute;font:10pt Times New Roman'>By:</KBD><KBD style=margin-left:27pt></KBD><FONT style='border-bottom:1px solid #000000'><I>/s/ John Rice</I></FONT>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:-30.25pt;margin-left:30.25pt'><KBD style=margin-left:30.25pt></KBD>John Rice&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:30.75pt'>Interim Chief Executive Officer</P>
</TD><TD valign=top style=width:244.5pt><P style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'><I>/s/ Ron Fisher</I></FONT></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
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