Attached files
Exhibit
10.3
AMENDMENT
NO. 1
TO
SECOND
AMENDED AND RESTATED EMPLOYMENT AGREEMENT
THIS AMENDMENT NO. 1 (this
“Amendment”) is entered into effective the 25th day
of March, 2010, by and between Ryan R. Gilbertson, a resident of the State of
Minnesota (“Employee”), and Northern Oil and Gas, Inc., a Nevada corporation
having its principal office at 315 Manitoba Avenue, Suite 200, Wayzata,
Minnesota (the “Company”).
WHEREAS, the Company and Employee
have entered into that certain Second Amended and Restated Employment Agreement,
effective January 30, 2009 (the “Agreement”).
WHEREAS, as of the Effective
Date, the Employee’s title with the Company is changing from “Chief Financial
Officer” to “President,” and the parties desire to amend the Agreement to
reflect the same.
NOW, THEREFORE, the parties
agree as follows:
1. Amendment. The Agreement is
hereby amended to replace the phrase “Chief Financial Officer” in each place it
appears with the word “President”.
2. Miscellaneous. Except as
specifically set forth herein, all terms and provisions of the Agreement shall
remain in full force and effect with no other modification or
waiver. This Amendment may be executed in two or more counterparts,
and delivered by facsimile or other means of electronic communication, each of
which shall be considered an original.
IN WITNESS WHEREOF, the
parties have executed this Amendment effective as of the date first set forth
above.
NORTHERN
OIL AND GAS, INC.
By /s/ Michael L.
Reger
By: Michael
L. Reger
Its: Chief
Executive Officer
EMPLOYEE:
/s/ Ryan R.
Gilbertson
Ryan R.
Gilbertson