Amendment to Employment Agreement between Dune Energy, Inc. and Alan Gaines (May 9, 2007)

Summary

Dune Energy, Inc. and Alan Gaines have agreed to amend their original employment agreement dated April 17, 2007. This amendment corrects a wording error in Section 6(c) of the agreement by replacing the phrase "sourced by Executive" with "or stock." All other terms of the original employment agreement remain unchanged and in effect.

EX-10.1 7 e602138_ex10-1.txt AMENDMENT TO EMPLOYMENT AGREEMENT ALAN GAINES AMENDMENT TO EMPLOYMENT AGREEMENT AMENDMENT TO EMPLOYMENT AGREEMENT dated as of May 9, 2007 (this "Amendment") between Dune Energy, Inc., a Delaware corporation having its principal place of business at 3050 Post Oak Blvd., Suite 695, Houston, Texas 77056 (the "Company"), and Alan Gaines, an individual residing in the State of Connecticut ("Executive"). WHEREAS, the Executive and the Company entered into a certain Employment Agreement dated as of April 17, 2007 (the "Agreement"); WHEREAS, the Executive and the Company desire to correct a certain scrivener's error in the Agreement. NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, and for other good and valuable consideration, the parties agree as follows: 1. Amendment to Agreement: Section 6(c) of the Agreement is hereby amended by deleting the words "sourced by Executive" and substituting in place thereof "or stock". 2. Agreement in Full Force and Effect: The parties hereto agree that, except for the Amendment set forth in Section 1 above, all other terms and provisions of the Agreement remain unchanged and in full force and effect. IN WITNESS WHEREOF, the parties have signed this Amendment as of the date first above written. Company: DUNE ENERGY, INC. By: /s/ James A. Watt ---------------------- Name: James A. Watt Title: President & CEO Executive: ALAN GAINES /s/ Alan Gaines -------------------------- Alan Gaines