EXHIBIT 10.07
THIRD AMENDMENT TO EMPLOYMENT AGREEMENT
This Third Amendment (the "Third Amendment") to that certain employment
agreement (the "Agreement") dated effective January 1, 2006 by and between
Westside Energy Corporation (the "Company") and Xxxxxxx X. Manner ("Manner") is
made and entered into effective as of the 7th day of December, 2007 by and
between the Company and Manner. All capitalized, undefined terms used herein
shall have the respective meanings given to such terms in the Agreement.
RECITALS
WHEREAS, the Agreement was entered into effective January 1, 2006; and
WHEREAS, the Agreement was first amended effective March 31, 2006 by an
instrument entitled "FIRST AMENDMENT TO EMPLOYMENT AGREEMENT"; and
WHEREAS, the Agreement was amended a second time effective January 1, 2007
by an instrument entitled "SECOND AMENDMENT TO EMPLOYMENT AGREEMENT" (for
purposes of the remainder of this Third Amendment, the term "Agreement" shall
mean the Agreement as heretofore amended by said First and Second Amendments);
and
WHEREAS, the Company and Manner desire to amend the Agreement upon the
terms, provisions and conditions set forth hereinafter;
AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants and agreements of
the Company and Manner to amend the Agreement, the Company and Manner agree as
follows:
1. AMENDMENT TO THE AGREEMENT.
(a) Section 9 of the Agreement is hereby amended so that the term of
the Agreement is increased from two years to three years, ending January 1,
2009.
(b) Section 7(c) of the Agreement is hereby amended so that any shares
of Common Stock issued pursuant to Section 7(c) as additional bonuses shall be
issued pursuant to the Company's 2007 Equity Incentive Plan.
2. MISCELLANEOUS. Except as otherwise expressly provided herein, the
Agreement is not amended, modified or affected by this Third Amendment. Except
as expressly set forth herein, all of the terms, conditions, covenants,
representations, warranties and all other provisions of the Agreement are herein
ratified and confirmed and shall remain in full force and effect. On and after
the date on which this Third Amendment becomes effective, the terms,
"Agreement," "hereof," "herein," "hereunder" and terms of like import, when used
herein or in the Agreement shall, except where the context otherwise requires,
refer to the Agreement, as amended by this Third Amendment. This Third
Amendment may be executed into one or more counterparts, and it shall not be
necessary that the signatures of all parties hereto be contained on any one
counterpart hereof; each counterpart shall be deemed an original, but all of
which together shall constitute one and the same instrument.
IN WITNESS WHEREOF, this Third Amendment to the Agreement is adopted as of
the second date written above.
"COMPANY" "MANNER"
WESTSIDE ENERGY CORPORATION /s/ Xxxxxxx X. Manner
By:/s/ Xxxx X. Xxxxxx Xxxxxxx X. Manner
Name: Xxxx X. Xxxxxx
Title: Vice President & Chief
Financial Officer
