ex10-1.htm


    Exhibit
10.1

    Employment
Agreement

    


    This
Employment Agreement (“Agreement”) entered into as of the 13th day of January
2009, to be effective as of January 13, 2009, is entered into by and between
Texhoma Energy, Inc., a Nevada corporation (“Texhoma”) and Gilbert Steedley, an
individual (the “Employee”), each a “Party” and collectively the
“Parties.”

    


    WHEREAS, Texhoma desires for
the Employee to provide services to Texhoma and Texaurus Energy, Inc., its
wholly owned Delaware subsidiary (“Texaurus”) and the Employee desires to
provide services to Texhoma and Texaurus on the terms and conditions set forth
below; and

    


    WHEREAS, Executive has had an
opportunity to inspect relevant documents relating to the organization and
operations of Texhoma and Texaurus and Executive has had a reasonable
opportunity to ask questions of and receive answers and to request additional
relevant information from a person or persons acting on behalf of Texhoma
concerning Texhoma and Texaurus.

    


    NOW, THEREFORE, in
consideration for the promises and pledges contained below and other good and
valuable consideration, which consideration the Parties acknowledge receipt of,
and the premises and the mutual covenants, agreements, and considerations herein
contained, the Parties hereto agree as follows:

    


    1.           Services.

    


    The
Employee agrees to provide services to the Company which include, but are not
limited to, serving as Director and Chief Executive Officer, Principal
Accounting Officer, Secretary, and Treasurer of Texhoma; and

    


    The
Employee agrees to provide services to Texaurus which include, but are not
limited to, serving as Director and Chief Executive Officer of Texaurus, which
services shall be provided on a part-time basis (collectively, the
“Services”).

    


    The
Services shall also include, but not be limited to, assisting the Company with
its proposed Strict Foreclosure transaction with Laurus Master Fund, Ltd. and
otherwise assisting the Company with its general corporate filings and
disclosures.

    


    2.           Consideration.

    


    In
consideration for the Employee agreeing to provide the Services, Texhoma agrees
to pay the Employee One Thousand Dollars ($1,000) per month (the “Monthly
Consideration”) for the Term of this Agreement and an additional Six Hundred
Dollars ($600) upon expiration of the Term (the “Bonus”), assuming that Employee
has provided services hereunder for the entire Term (as defined
below)(collectively the “Consideration”). The Monthly Consideration shall be
paid to Employee monthly by the fifth (5th) day of
each calendar month and the Bonus shall be paid to Executive within five (5)
days from the expiration of the Term, assuming such Bonus is earned by
Executive.  The Consideration shall be paid to Employee without
deduction for taxes and Employee will be responsible for the payment of all
personal income taxes.


    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    3.           Term.

    


    This
Agreement shall have a term of three (3) months (the “Term”), and shall be
renewable upon the expiration of such Term by the mutual consent of the
Parties.  This Agreement may be terminated by either party with thirty
(30) days written notice to the non-terminating Party.

    


    4.           Signatures.

    


    This
Agreement may be executed in several counterparts, each of which is an
original.  It shall not be necessary in making proof of this Agreement
or any counterpart hereof to produce or account for any of the other
counterparts.  A copy of this Agreement signed by one Party and faxed
to another Party shall be deemed to have been executed and delivered by the
signing Party as though an original.  A photocopy of this Agreement
shall be effective as an original for all purposes.

    


    IN WITNESS WHEREOF, the
parties have duly executed this Agreement effective as of the day and year first
above written.

    


    
      
        
          
            	
                    Texhoma Energy, Inc.

                  	
                    “Employee”

                  
	
                    A
      Nevada Corporation

                  	 
      
	 
      	 
      
	
                    /s/
      Daniel Vesco

                  	
                    /s/
      Gilbert Steedley

                  
	
                    Daniel
      Vesco

                  	
                    Gilbert
      Steedley

                  
	
                    President

                  	 
      
	 
      	 
      
	
                    Date:
      January 13, 2009

                  	
                    Date:
      January 13,
  2009

                  


          

        

      

    

    
      
        
        

      

      
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