EXHIBIT 10.17
MODIFICATION TO CONSULTING AGREEMENT
Agreement by and between Cardinal Resources, Inc. ("Cardinal") and
Cornerstone Natural Gas, Inc. ("Company") dated this 15th day of February
1995.
WHEREAS, Company entered into that certain Consulting Agreement by and
between Company and Xxxxx X. Xxxxxx as ("Consultant") dated June 4, 1993
("Agreement");
WHEREAS, effective August 1, 1994, Consultant assigned the Consulting
Agreement to Cardinal Resources, Inc., in that Assignment of Consulting
Agreement, a copy of which is attached hereto as Exhibit "A";
WHEREAS, Consultant is desirous to commit additional consulting services
to the Company for a period of one year only and Company is agreeable to such
additional services,
W I T N E S S E T H :
NOW, THEREFORE, in consideration of the premises and mutual covenants
and agreements herein contained, and intending to be legally bound hereby,
the Company and Cardinal hereby agree to modify the Agreement as follows:
1. Consulting Services as defined in the Agreement shall be modified
to include Mr. Xxxx Xxxxxx as an additional business consultant ("Additional
Consultant") for a period of one year only beginning on January 9, 1995.
2. The duties of the Consultant as defined in the Agreement shall be
modified and expanded so that between the Consultant and Additional
Consultant, a total of 60 hours per week will be devoted to the Company.
3. The Company shall provide to the Additional Consultant medical
insurance as provided to Consultant.
4. As compensation for Additional Consultant, the Company shall pay
Cardinal an additional $50,000 for the one-year period. Cardinal shall
invoice Company monthly over the one-year period. This additional
compensation shall not increase the rate paid to Consultant.
5. The Company shall provide to Additional Consultant office space it
has available and necessary secretarial support.
6. All other terms and conditions of the Agreement shall not be
changed, modified, or enlarged except as specified in this Modification to
Consulting Agreement or Assignment of Consulting Agreement.
CARDINAL RESOURCES, INC.
By: /s/ XXXXX X. XXXXXX
-------------------------------
Xxxxx X. Xxxxxx
CORNERSTONE NATURAL GAS, INC.
By: /s/ XXX X. XXXXX
-------------------------------
Xxx X. Xxxxx, CEO
XXXXX X. XXXXXX, CONSULTANT AND GUARANTOR
By: /s/ XXXXX X. XXXXXX
-------------------------------
