Item 5.02 Departure of Directors or Certain Officers; Election of Directors;


          Appointment of Certain Officers; Compensatory Arrangements of Certain
          Officers.

On March 24, 2022, CKX Lands, Inc. (the "Registrant") and William Gray Stream, the Registrant's President and Treasurer and a director, entered into a Second Amendment (the "Second Amendment") to Mr. Stream's Executive Employment Agreement with the Registrant effective July 15, 2020 (the "Agreement"). The Agreement was previously filed with the Registrant's Current Report on Form 8-K on July 16, 2020 and the First Amendment to the Agreement was filed with the Registrant's Current Report on Form 8-K on March 25, 2021.

The Agreement entitles Mr. Stream to receive restricted stock units and performance shares under a stock incentive plan that the Registrant's shareholders approved at the Registrant's annual meeting on May 6, 2021. The Second Amendment:



  ? extends the term of the Agreement, as amended, from three years to four years
    so that it will expire on July 15, 2024;



  ? advances the vesting schedule for any granted restricted stock units (RSU's)
    by one year so that the first incremental vesting date for granted RSU's is
    the second anniversary of the effective date of the Agreement, as amended,
    instead of the first anniversary as provided under the original Agreement, and
    the final incremental vesting date (the date on which any granted RSU's will
    be fully vested) is the fourth anniversary of the effective date of the
    Agreement, rather than the third anniversary; and



  ? increases certain of the stock price targets for granted performance shares.

The Second Amendment is filed as exhibit 10.1 to this report and is incorporated into this Item 5.02 by reference. The foregoing description of the Second Amendment is qualified in its entirety by reference to such exhibit.

Item 9.01 Financial Statements and Exhibits.





(d) Exhibits:

Exhibit
  No.     Description

10.1+       Second Amendment to Employment Agreement effective as of March 24, 2022.
104       Cover Page Interactive Data File (embedded within the Inline XBRL document).

____________

+ Management contract or compensatory plan or arrangement.

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