ONE YEAR TERM EXTENSION TO THE EMPLOYMENT AGREEMENT OF AUGUST 1, 2004
Exhibit
10.38
April
30, 2009
ONE
YEAR TERM EXTENSION TO THE
EMPLOYMENT
AGREEMENT OF AUGUST 1, 2004
By and
between Siberian Energy Group Inc., a Nevada corporation (the “Company”), and
Xxxxx Xxxxxx (“Employee”) entered into this 30th day of
April, 2009, and made effective as of January 1, 2009.
WHEREAS the Company and the
Employee previously signed the Employment Agreement, which stated the term of
employment to start on August 1, 2004 and to end on December 31, 2008 (the
“Agreement”, a copy of which is attached hereto as Exhibit
A);
AND WHEREAS the Company and
the Employee wish to further extend the term of the employment
agreement.
NOW THEREFORE THIS AGREEMENT
WITNESSETH, that the Company and the Employee agree as
follows:
Point 4 “Term” of the
employment Agreement to be revised and the term of the Agreement to be extended
until December 31, 2009 (the “Extended Term”).
Point 5.1
“Compensation” of the employment Agreement to be revised and annual
salary of the Employee to be stated as US$180,000.
Point 6 “Stock
Option” of the employment Agreement is to be removed and a new Stock
Option agreement, attached hereto as Exhibit B, is to be
entered into between the Company and the Employee.
All other
provisions of the Employment Agreement dated August 1, 2004 shall remain in full
force and effect until the expiration of the Extended Term.
IN
WITNESS WHEREOF, the parties have caused this agreement to be executed the day
and year first above written.
EMPLOYEE
|
COMPANY
|
/s/ Xxxxx Xxxxxx | /s/ Xxxxx Pochapski |
Xxxxx
Xxxxxx,
|
Xxxxx
Pochapski,
|
XX XXXXXXXXXXX
XXX,
|
CFO
|
XXXXXXXXX,
XX, XXX XXX
|
|
XXXXXX
|