PAYROLL DATA CHANGE ADDITIONAL TERMS
Exhibit 10.08
PAYROLL DATA CHANGE
ADDITIONAL TERMS
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Change for Employee/Consultant- Name:
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Xxxxxxx X. Xxxx, Xx.
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Change Effective as of (Date):
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April 26, 2012
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The parties below agree that the Employment Agreement dated April 1, 2010 between Employee and Worthington Energy, Inc., formerly known as Xxxxxx Energy, Inc., is amended as follows:
1. Title under paragraph A will be Changed to just Chairman of the Board of Directors.
2. Base salary under paragraph 4 A is changed to include-Base Salary increase: When production reached 500 BOEPD equivalent, salary to be increased to $25,000 per month. When production reaches 2,000 BOEPD equivalent, salary to be increased to $35,000 per month. When production reached 4,000 BOEPD equivalent, salary to be increased to $45,000 per month. BOEPD increases triggered after 30 day BOEPD.
3. Under paragraph 4 the following items are added:
Health Insurance. Employee will be entitled to Health Insurance through Healthnet or other carrier.
Car Lease, on reaching 500 BOEPD employee will be entitled to Jaguar XJ Special Lease Offer, $799 per month,36 month, $4,995 +tax (or other Jaguar Lease special).
4. Term is extended to December 31, 2013.
In all other respects, the terms of the Option Agreement are ratified and confirmed.
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EMPLOYEE:
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COMPANY:
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f/k/a Xxxxxx Energy, Inc.
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a Nevada corporation
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/s/ XXXXXXX X. XXXX, XX.
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/s/ XXXXXXX XXXXX
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Xxxxxxx X. Xxxx, Xx.
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By: Xxxxxxx Xxxxx
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Title: Chief Executive Officer
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