AMENDMENT TO EMPLOYMENT CONTRACT
This Amendment to Employment Contract ("Amendment") effective January 1,
1996, by and between Midland Resources, Inc., a Texas corporation, referred to
in this Amendment as "Employer", located at 00000 Xxxxxxxxxxx Xxxx Xxxxx, Xxxxx
000, Xxxxxxx, Xxxxx 00000 and Xxxx X. Xxxxxx III referred to in this Agreement
as "Employee".
WITNESSETH:
WHEREAS, the Employer and the Employee desire to amend the terms of the
Employment Contract (the "Agreement") between them effective January 1, 1995;
NOW, THEREFORE, in consideration of the premises and mutual covenants
hereinafter set forth, the parties agree to amend the Agreement as follows:
1. TERM OF EMPLOYMENT. The term of the Agreement, as set forth in paragraph
1.1 thereof is hereby extended through December 31, 2000. On the anniversary of
the effective date of this Amendment, the term of the Agreement shall be
automatically extended for an additional period of one (1) year, provided that
(i) the Employee is employed by the Employer on such anniversary and (ii)
neither party has, within three (3) months prior to such anniversary given the
other party written notice that the Agreement shall not be automatically
extended thereafter.
2. RATIFICATION. Except as herein amended, the provisions of the Agreement
remain in full force and effect and are hereby ratified and confirmed.
EXECUTED at Houston, Texas this 8th of January, 1996.
EMPLOYER
By: /s/ Xxxx X. Xxxxxx III
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Xxxx X. Xxxxxx III - President
By: /s/ Xxx X. Xxxxx
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Xxx X. Xxxxx, Director
Compensation Committee Member
By: /s/ Xxxxxx X. Xxxxxxxx
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Xxxxxx X. Xxxxxxxx, Director
Compensation Committee Member
EMPLOYEE
/s/ X.X. Xxxxxx III
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Xxxx X. Xxxxxx III
