Amendment to Employment Agreement between Worthington Energy, Inc. and Charles F. Volk, Jr. (April 26, 2012)

Summary

Worthington Energy, Inc. and Charles F. Volk, Jr. have amended their April 1, 2010 employment agreement. Volk's title is updated to Chairman of the Board. His base salary will increase in stages as company production milestones are met, with specific salary amounts tied to production levels. Additional benefits include health insurance and, upon reaching a production target, a Jaguar car lease. The agreement's term is extended to December 31, 2013. All other terms of the original agreement remain unchanged.

EX-10.08 6 ex10-08.htm AMENDMENT TO EMPLOYMENT AGREEMENT, DATED APRIL 26, 2012, BY AND BETWEEN WORTHINGTON ENERGY, INC. AND CHARLES VOLK ex10-08.htm

Exhibit 10.08

PAYROLL DATA CHANGE

ADDITIONAL TERMS

Change for Employee/Consultant- Name:		Charles F. Volk, Jr.

Change Effective as of (Date):		April 26, 2012

The parties below agree that the Employment Agreement dated April 1, 2010 between Employee and Worthington Energy, Inc., formerly known as Paxton 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.

EMPLOYEE:	COMPANY:

	Worthington Energy, Inc.
	f/k/a Paxton Energy, Inc.
	a Nevada corporation


/s/ CHARLES F. VOLK, JR.	/s/ ANTHONY MASON
Charles F. Volk, Jr.	By: Anthony Mason
	Title: Chief Executive Officer