FIRST AMENDMENT TO THE THREE FORKS, INC. CONSULTING AGREEMENT
This First Amendment to the Consulting Agreement by and between Three Forks,
Inc. and W. Xxxxxx Xxxxxxx made as of the 1st day of March 2013.
WHEREAS the parties did on the 1st day of September 2012 entered into a
Consulting Agreement, and;
WHERAS the parties desire to amend the Consulting Agreement.
NOW THEREFORE in consideration of the undertakings the Consulting Agreement is
hereby amended as follows:
Section 3 Compensation is hereby amended to read as follows:
3. COMPENSATION.
(a) Company agrees to pay Consultant no less than a Base Fee of $120,000.00
per year for the first six months and shall increase to $180,000.00 on the first
day of March 2013.
In addition to the Base Salary, Consultant shall be paid a monthly car
allowance of six hundred dollars. Consultant shall be paid a bonus of one half
of one percent of the net asset increases as reflected in the Company balance
sheet from time to time. The basis of the calculation shall be the net assets as
listed in the company financials and shall at least be paid every six months
within 30 days after the accounting for the applicable period has been
completed. The first payment period will be for the period of September 1, 2012
through February 2013.
IN WITNESS WHEREOF the Parties have duly executed this amendment to the original
Consulting Agreement as of the date first above written.
Three Forks, Inc. Consultant
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Xxxxxx Xxxxxxx, President W. Xxxxxx Xxxxxxx
