EXHIBIT 10.58
 
AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT

This Amendment No. 1 to Employment Agreement (“Amendment”), effective as of
January 11, 2013, is entered into by and between PEDEVCO Corp., as
successor-in-interest to Pacific Energy Development Corp. (herein referred to as
the “Company”), and Clark R. Moore.

WITNESSETH:

WHEREAS, the Company and you have entered into an employment agreement, dated
June 10, 2011 (the “Agreement”), concerning the employment of you as Executive
Vice President and General Counsel of the Company; and

WHEREAS, the parties wish to amend the Agreement to revise the termination and
severance terms as set forth therein;

NOW, THEREFORE, in consideration of the mutual covenants and agreements
hereinafter set forth, the parties hereto agree as follows:

1.  
Section 5(c)(2) of the Agreement is amended and restated in full to read as
follows:

“5(c)(2) If my employment terminates under this Section 5(c), the Company shall
pay me or, if I die, my estate, all compensation and benefits with respect to my
employment, which have accrued due and those which may be provided to me
pursuant to a group disability and insurance policies or the Company’s 401(k),
profit sharing plan and pension plan will be paid, and I or, if I die, my
estate, shall receive all the compensation and benefits set forth under Section
8(a) as if my employment had been terminated other than for Cause.”

2.  
Except to the extent modified hereby, the Agreement shall remain in full force
and effect.

3.  
This Amendment shall be binding upon and inure to the benefit of the parties and
their successors and assigns.

[Signature Page Follows]
 
 
 
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“The Company”  PEDEVCO Corp.          
Date: January 11, 2013
By:
/s/ Frank C. Ingriselli      
Frank C. Ingriselli
     
President and Chief Executive Officer
                  Date:  January 11, 2013   /s/ Clark R. Moore      
Clark R. Moore
                 

 
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