Extension No. 4 to Employment Agreement between Siberian Energy Group Inc. and David Zaikin

Summary

Siberian Energy Group Inc. and David Zaikin have agreed to extend Zaikin's employment through December 31, 2011. The agreement sets Zaikin's annual salary at $180,000 and removes the previous stock option provision, with a new stock option agreement to be created later by the company's board. All other terms from the original 2004 employment agreement remain unchanged for the extended period.

EX-10.51 3 ex10-51.htm ex10-51.htm

Exhibit 10.51

April 22, 2011

EXTENSION N4 TO THE

EMPLOYMENT AGREEMENT OF AUGUST 1, 2004

By and between Siberian Energy Group Inc., a Nevada corporation (the “Company”), and David Zaikin (“Employee”) entered into this 22nd day of April, 2011, and made effective as of January 1, 2011.

WHEREAS the Company and the Employee previously signed the Employment Agreement, which stated the term of employment to start on August 1, 2004 and to end on December 31, 2008 (the “Agreement”, a copy of which is attached hereto as Exhibit A), and subsequent extensions for the year 2009 and 2010 till December 31, 2010;

AND WHEREAS the Company and the Employee wish to further extend the term of the employment agreement;

NOW THEREFORE THIS AGREEMENT WITNESSETH, that the Company and the Employee agree as follows:

Point 4 “Term” of the employment Agreement to be revised and the term of the Agreement to be extended until December 31, 2011 (the “Extended Term”).

Point 5.1 “Compensation” of the employment Agreement to be revised and annual salary of the Employee to be stated as US$180,000.

Point 6 “Stock Option” of the employment Agreement is to be removed. A new Stock Option agreement will be entered into between the Company and the Employee upon the resolution of the Board of directors of the Company.

All other provisions of the Employment Agreement dated August 1, 2004 shall remain in full force and effect until the expiration of the Extended Term.

IN WITNESS WHEREOF, the parties have caused this agreement to be executed the day and year first above written.

EMPLOYEE	COMPANY


/s/ David Zaikin	/s/ Elena Pochapski
David Zaikin	Elena Pochapski
71 Woodchester Crt,	CFO
Thornhill, ON, L4J 7V6	Siberian Energy Group Inc.
Canada