Unassociated Document


     

    
       

      EXHIBIT
        10.18

       

      AMENDMENT
        TO EXECUTIVE

      EMPLOYMENT
        AGREEMENT

      


      


      This
        Amendment to Executive Employment Agreement is made as of May 28, 2007 between
        True North Energy Corp., a Nevada corporation (the “Company”) and John Folnovic
        (the “Executive”).

      


      WITNESSETH:

      


      WHEREAS,
        the Company and the Executive entered into an Executive Employment Agreement
        (the “Employment Agreement”) effective as of June 1, 2006 pursuant to which the
        Executive is serving as the Company’s president and chief executive officer;
        and

      


      WHEREAS,
        the Company and the Executive wish to extend the term of the Employment
        Agreement for an additional 12 month period in accordance with the terms
        of the
        Employment Agreement; and

      


      WHEREAS,
        in recognition of a Stock Purchase Agreement dated as of May 28, 2007 between
        the Executive and Massimiliano Pozzoni, the Company’s principal shareholder,
        pursuant to which Massimiliano Pozzoni has sold 15,500,000 shares of the
        Company’s common stock to the Executive, the Executive and the Company have
        agreed to amend the Employment Agreement to delete Section 3(b) thereof and
        the
        Executive has agreed to waive all other rights granted to him under the
        Employment Agreement to receive compensation in the form of restricted shares
        of
        the Company’s common stock.

      


      NOW,
        THEREFORE, 
        in
        consideration of the premises, the agreements herein contained and other
        good
        and valuable consideration, receipt of which is hereby acknowledged, the
        parties
        hereto agree as of the date hereof as follows:

      


      1. Term.
        Effective June 1, 2007 the Effective Date of the Employment Agreement is
        hereby
        changed to June 1, 2007 and Executive is to serve under the Employment Agreement
        for a term of one year, subject to further renewal.

      


      2. Compensation.
        Section
        3(b) of the Employment Agreement is hereby deleted from the Employment Agreement
        and the parties agree that the Company has no obligation, now or hereafter,
        to
        issue any restricted shares of the Company’s common stock to the Executive by
        reason of the Employment Agreement.

      


      3. No
        Further Changes.
        Except
        as provided herein, the Employment Agreement is to continue with full force
        and
        effect.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      


      IN
        WITNESS WHEREOF, the undersigned have executed this Amendment to Executive
        Employment Agreement as of the date first above written.

       

      
        	 	 	 	 
	 	 	 	
                
                  TRUE
                    NORTH ENERGY CORPORATION

                

              
	
              	 	 	
                 

                 

              
	 	 	 	
                By: /s/
                  Massimiliano Pozzoni           
                  

                Name: Massimiliano
                  Pozzoni

                Title: Secretary

              
	 	 	 	 
	 	 	 	 
	 	 	 	EXECUTIVE
	 	 	 	 
	 	 	 	 
	 	 	 	
                    /s/
                  John Folnovic              

                John
                  Folnovic