FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
FIRST
AMENDMENT TO EMPLOYMENT AGREEMENT
This
FIRST AMENDMENT (this “Amendment”)
to the
EMPLOYMENT AGREEMENT, dated as of June 22, 2007, and effective as of May 11,
2007 (the “Agreement”),
by
and between XXXXXX X. XXXXXX, an individual residing in Los Angeles, California
(the “Employee”),
and
PURE BIOFUELS CORP., a Nevada corporation (the “Company”)
is
effective as of September 12, 2007 (the “Effective
Date”).
Capitalized terms used but not defined herein have the meanings set forth in
the
Agreement unless the context otherwise requires.
WITNESSETH
WHEREAS,
Section 6.01 of the Agreement sets forth the Base Salary of Employee as an
amount equal to $100,000 per year; and
WHEREAS,
the Company desires to increase the amount of such Base Salary to an amount
equal to $200,000 as of the Effective Date.
NOW,
THEREFORE, for good and valuable consideration, the sufficiency of which is
hereby acknowledged, Company and Employee, intending to be legally bound hereby
agree as follows:
1. Base
Salary.
Section
6.01
of the
Agreement is amended by replacing “$100,000” with “$200,000” and such increased
salary shall become effective as
of the
Effective Date.
2. Approval
of Board of Directors.
This
Amendment is conditioned upon approval of the Board of Directors of the
Company.
3. Governing
Law.
This
Amendment shall be governed by and construed in accordance with the laws of
the
State of California.
4. Counterparts.
This
Amendment may be executed in one or more counterparts, each of which shall
be
deemed an original and all of which combined shall constitute one and the same
instrument. This Amendment shall be deemed effective upon each party’s receipt
of a signed facsimile or electronic copy of this Amendment from the other party.
5. Successors
and Assigns.
This
Amendment shall inure to the benefit of, and be binding upon, the parties hereto
and their respective successors and permitted assigns.
6. Amendment.
Except
as otherwise amended hereby, all of the terms and provisions of the Agreement
shall remain in full force and effect.
IN
WITNESS WHEREOF,
the
parties have caused this Amendment to be duly executed and delivered by their
respective duly authorized officers and representatives as of the date first
above written.
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| By: | /s/ Xxxx Xxxxxxxx | |
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Name: Xxxx Xxxxxxxx |
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Title:
Chief Executive Officer
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XXXXXX
X. XXXXXX
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| /s/ Xxxxxx X. Xxxxxx | ||
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