Oral Independent Contactor Agreement
EXHIBIT 10.16
Oral Independent Contactor Agreement
Concurrent with the appointment of Xxxxxx Xxxxx as President, Treasurer and Secretary of Sky Petroleum, Inc. on December 20, 2004, Sky Petroleum, Inc. and Xxxxxx Xxxxx orally agreed to the terms of engagement under which Xxxxxx Xxxxx would provide services on an independent contactor basis to serve as President, Treasurer and Secretary of Sky Petroleum, Inc. for a consulting fee of $5,000 per month. The agreement was approved by resolution of the board of directors of Sky Petroleum, Inc. on December 20, 2004.
On October 1, 2005, Sky Petroleum, Inc. and Xxxxxx Xxxxx orally agreed to increase the monthly compensation under which Xxxxxx Xxxxx would provide services on an independent contactor basis to serve as President, Treasurer and Secretary of Sky Petroleum, Inc. for to $7,500 per month.
On May 30, 2006, Xx. Xxxxx resigned as the President, Treasurer and Secretary of Sky Petroleum, Inc. and this oral agreement was terminated.