0001104659-06-073669 Sample Contracts

EMPLOYMENT AGREEMENT
Employment Agreement • November 9th, 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 Patrick M. McKinney, an individual currently residing in Tarrant County, Texas (“Vice President”), as of the 1st day of June, 2006 (the “Effective Date”). The Company and Vice President may sometimes be referred to herein individually as “Party” and collectively as “Parties.”

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FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
Employment Agreement • November 9th, 2006 • Cano Petroleum, Inc • Crude petroleum & natural gas

THIS FIRST AMENDMENT TO EMPLOYMENT AGREEMENT (this “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 Patrick M. McKinney, an individual currently residing in Tarrant County, Texas (“Vice President,” collectively, the “Parties”), effective as of the 9th day of November, 2006 (the “Amendment Effective Date”).

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