0001001277-09-000047 Sample Contracts

SUPPLEMENTAL COMPENSATION AGREEMENT
Supplemental Compensation Agreement • May 13th, 2009 • Golden Phoenix Minerals Inc • Metal mining • Nevada

THIS SUPPLEMENTAL COMPENSATION AGREEMENT (the “Agreement”) is made effective as of May 7, 2009, by and between David A. Caldwell, the Chief Executive Officer of Golden Phoenix Minerals, Inc. (the “Executive”) and Golden Phoenix Minerals, Inc., a Nevada corporation with its principal place of business at 1675 E. Prater Way, Suite 102, Sparks, NV 89434 (the “Company”).

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