ADDENDUM TO
EMPLOYMENT AGREEMENT
THIS ADDENDUM TO EMPLOYMENT AGREEMENT is made and entered into effective
the 12th day of May, 1997, by and between FX ENERGY, INC., a Nevada corporation
("Employer"), and XXXXX X. XXXXXXXX ("Employee"), based on the following:
PREMISES
Employer and Executive entered into that certain Employment Agreement dated
July 11, 1996 (the "Agreement"). The board of directors and Compensation
Committee of the Employer have approved that, in addition to the compensation
and benefits provided under the Agreement, in consideration of the continued
employment of Employee by Employer, the Employer will provide an annual bonus of
$100,000 in the form of a credit that may be used to exercise any options for
the purchase of Employer's common stock held by Employee.
AGREEMENT
NOW, THEREFORE, based on the foregoing premises and for and in
consideration of the mutual promises and covenants contained herein, it is
hereby agreed as follows:
1. Subparagraph (i) of section 5 shall be added to the Agreement as
follows:
On each of May 12, 1998, 1999, and 2000, Employer shall grant to
Employee a bonus in the form of a $100,000 credit that may be applied
by Employee at such time and in such amounts as Employee may
determine, against the exercise of Employee's options to purchase
Common Stock of Employer.
2. Except as modified herein, the Agreement is hereby ratified and shall
remain in full force and effect as provided therein.
DATED year and date first above written.
Employer:
FX ENERGY, INC.
By /s/ Xxxxxx X. Xxxxxx
Employee:
/s/ Xxxxx X. Xxxxxxxx
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