SECOND AMENDMENT TO EMPLOYMENT AGREEMENT
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SECOND AMENDMENT TO EMPLOYMENT AGREEMENT
THIS SECOND AMENDMENT TO EMPLOYMENT AGREEMENT ("Amendment") is made and entered into by and between Xxxx Petroleum Inc., a Delaware corporation with its principal executive offices in Fort Worth, Texas (the "Company"), and Xxxxxx X. Xxxxx, an individual currently residing in Tarrant County, Texas ("Senior Vice President"), effective as of the 31st day of May, 2008 (the "Amendment Effective Date").
WHEREAS, the Company and Senior Vice President entered into that certain Employment Agreement dated as of June 1, 2006; and further amended by First Amendment to Employment Agreement effective as of June 29, 2007 (the "Agreement"); and
WHEREAS, the Company and Senior Vice President now desire to amend, alter, modify and change the terms and provisions of the Agreement, as follows.
NOW THERFORE, for and in consideration of the mutual benefits to be obtained hereunder and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and confessed, Company and Senior Vice President do hereby agree to amend, alter, modify and change the Agreement, effective prospectively, as of the Amendment Effective Date as follows:
1. Section 2. Term. shall be deleted in its entirety and the following substituted in place and in lieu thereof.
2. Term. The employment of Senior Vice President by the Company as provided in this Section will be for a term of three (3) years (the "Term") commencing on the Effective Date and expiring at the close of business on May 31, 2011.
Except as specifically amended, altered, modified and changed hereby, the Agreement remains in full force and effect as originally written.
Signatures
To evidence the binding effect of the covenants and agreements described above, the parties hereto have executed this Amendment effective as of the date Second above written.
THE COMPANY: |
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XXXX PETROLEUM, INC. |
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By: |
/s/ S. XXXXXXX XXXXXXX S. Xxxxxxx Xxxxxxx Chairman and Chief Executive Officer |
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SENIOR VICE PRESIDENT: |
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By: |
/s/ XXXXXX X. XXXXX Xxxxxx X. Xxxxx |
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SECOND AMENDMENT TO EMPLOYMENT AGREEMENT
