0001104659-06-002827 Sample Contracts

FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
Employment Agreement • January 19th, 2006 • Cano Petroleum, Inc • Crude petroleum & natural gas

THIS FIRST AMENDMENT TO EMPLOYMENT AGREEMENT (“Amendment”) is made and entered into by and between Cano Petroleum Inc., (formerly Huron Ventures, Inc.) a Delaware corporation with its principal executive offices in Fort Worth, Texas (the “Company”), and Thomas Cochrane, an individual currently residing in Tarrant County, Texas (“Employee”), effective as of the 1st day of January, 2006 (the “Amendment Effective Date”). Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the below described Agreement.

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FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
Employment Agreement • January 19th, 2006 • Cano Petroleum, Inc • Crude petroleum & natural gas

THIS FIRST AMENDMENT TO EMPLOYMENT AGREEMENT (“Amendment”) is made and entered into by and between Cano Petroleum Inc., (formerly Huron Ventures, Inc.) a Delaware corporation with its principal executive offices in Fort Worth, Texas (the “Company”), and Michael J. Ricketts, an individual currently residing in Tarrant County, Texas (“Employee”), effective as of the 1st day of January, 2006 (the “Amendment Effective Date”). Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the below described Agreement.

EMPLOYMENT AGREEMENT
Employment Agreement • January 19th, 2006 • Cano Petroleum, Inc • Crude petroleum & natural gas • Texas

THIS EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into by and between Cano Petroleum Inc., a Delaware corporation with its principal executive offices in Fort Worth, Texas (the “Company”), and S. Jeffrey Johnson, an individual currently residing in Tarrant County, Texas (“Executive”), as of the 1st day of January, 2006 (the “Effective Date”). Company and Executive may sometimes be referred to herein individually as “Party” and collectively as “Parties.” As of the Effective Date, this Agreement is executed in replacement of and in lieu and in place of that certain Executive Employment Agreement dated May 28th, 2004 by and between Huron Ventures, Inc. (predecessor to the Company) and Executive.

FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
Employment Agreement • January 19th, 2006 • Cano Petroleum, Inc • Crude petroleum & natural gas

THIS FIRST AMENDMENT TO EMPLOYMENT AGREEMENT (“Amendment”) is made and entered into by and between Cano Petroleum Inc., a Delaware corporation with its principal executive offices in Fort Worth, Texas (the “Company”), and James K. Teringo, Jr., an individual currently residing in Dallas County, Texas (“Employee”), effective as of the 1st day of January, 2006 (the “Amendment Effective Date”).

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