EXHIBIT
10.13
1901 Av. Of the
Starts, Suite 200
On behalf of
“Cobra Oil & Gas Company”, a Nevada corporation
(the “Company”), I am pleased to offer you a position
on our Board of Advisors.
Subject to the approval of the Company’s
Board of Directors, you will be granted 50,000 restricted shares of
Company common stock per each year of service. Subject to your
acceptance of this agreement and to your continued service on the
Board of Advisors, you will receive 25,000 restricted shares at the
signing of this agreement and the balance of 25,000 restricted
shares six months from the date of the signing of this
agreement.
As an Advisor,
you will be invited to attend Advisory Board Meetings, either in
person or on the phone, which will be arranged on an as needed
basis (no more than four per year). In addition, your
name and bio will appear on our website and materials in the
Advisor section. Your service as an Advisor will be
subject to the Company’s Board of Advisors Terms and
Conditions attached hereto as Exhibit A, to which you agree by your
signature below (the “Terms”).
On behalf of
the Company’s management, I am excited about you serving as
an Advisor the Company and look forward to your input and
guidance.
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Sincerely,
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Cobra Oil &
Gas Company
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By:
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I agree to and
accept the Board of Advisor position and agree to be bound by the
Terms.
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Date:
July
8
, 2009
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/s/ Warren
Dillard
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Warren
Dillard
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BOARD OF
ADVISORS TERMS AND CONDITIONS
1.
Expenses . The Company shall reimburse
Advisor in accordance with the Company’s policies for
reasonable travel and related expenses incurred in the course of
performing services hereunder, provided, however, that appropriate
documentation of such expenses must be provided in accordance with
such policies and expenses in excess of $100 shall be approved in
advance by the Company. Advisor shall not otherwise be
paid for the collaboration, advice and assistance provided to the
Company in connection with service on the Board of Advisors (the
“Services”).
2.
Termination . Advisor’s service on
the Board of Advisors may be terminated by either party for any
reason upon written notice to the other party.
3.
Independent Contractor . Advisor’s
relationship with the Company will be that of an independent
contractor and not that of an employee. Advisor will
have no authority to enter into contracts that bind the Company or
create obligations on the part of the Company without the prior
written authorization of the Company.
4.
Nondisclosure of Confidential Information
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(a)
Agreement Not to Disclose . Advisor agrees not to
use any Confidential Information (as defined below) disclosed to
Advisor by the Company for Advisor’s own use or for any
purpose other than to carry out discussions concerning, and the
undertaking of, the Services. Advisor shall not disclose
or permit disclosure of any Confidential Information of the Company
to third parties other than other members of the Company’s
Board of Advisors.
