Document:

Exhibit 10.03

ENSERVCO CORPORATION

EMPLOYMENT AGREEMENT

This Employment Agreement (this “Agreement”),
effective  July 1, 2014, is by and between the following parties:

Company:

Enservco Corporation, a Delaware corporation,
and

Executive:

Robert Devers, an individual resident of the
state of Colorado.

Background

		A.	In order to induce Executive to continue to serve as the Secretary, Treasurer, and Chief Financial Officer, the Company desires
to provide Executive with compensation and other benefits on the terms and conditions contained in this Agreement.

		B.	Executive is willing to accept such employment and perform services for the Company on the terms and conditions contained in
this Agreement.

Agreement

In consideration of the mutual promises and consideration
described below, and in amendment of and replacement of any and all prior employment agreements between the Company and the Executive
(whether written or oral), the parties agree as follows:

		1.	Employment. Subject to the terms and conditions of this Agreement, the Company and Executive agree to enter into an
employment relationship whereby Executive will serve as the Company’s Secretary, Treasurer, and Chief Financial Officer.
Executive will report to the Company’s Chief Executive Officer and to the Audit Committee of the Board of Directors. Executive
will have such responsibilities and authority as are consistent with the offices of Secretary, Treasurer, and Chief Financial Officer
and as may be determined from time to time by the Company’s Chief Executive Officer. Executive is not required to devote
all of his working time and efforts to the performance of services for the Company. However, all Company performance will be to
the best of Executive’s ability.

		2.	Term of Employment. Executive’s term of employment under this Agreement will commence on July 1, 2014 and continue
until June 30, 2016 (the “End Date”, and such period, the “Term”), unless otherwise terminated
as described in Section 5 below. There will not be any automatic renewal of this Agreement. Should Executive continue to
be employed following the expiration of the Term, unless Executive enters into another employment agreement, Executive acknowledges
that he will at such time be considered an at-will employee.

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		3.	Compensation.

		a.	Base Salary. The Company will pay Executive during the Term an annual base salary in the amount of $175,000.00 (“Base
Salary” effective July 1, 2014). At each and every July 1 during the Term, the Base Salary will be increased by not less
than 5% of the Base Salary as of June 30 immediately preceding. Base Salary will be payable in accordance with the ordinary payroll
practices of the Company.

		b.	Bonus. Executive will be eligible each year for a discretionary bonus in addition to Executive’s Base Salary,
which will be awarded in such amounts as the Company’s board of directors will determine and based upon Executive’s
individual performance and the Company’s financial performance; provided, however, that with the approval of the Company’s
board of directors, the Company may establish a formula-based bonus for Executive calculated from Company’s financial performance.
Such bonus for any year, if any, will be paid during the 90-day period beginning February 1 of the year immediately after the year
for which the bonus was earned.

		c.	Options. Subject to and in accordance with the Company’s 2010 Stock Incentive Plan, the Company has granted to
Executive certain options previously reported in accordance with the rules of the Securities and Exchange Commission, and those
options are hereby approved, ratified and confirmed in accordance with their terms except to the extent modified by Section 5(b)(iii)
hereof.

		d.	Withholding. All payments to Executive under this Agreement will be subject to withholding as required by law.

		4.	Employee Benefits.

		a.	Benefit Plans. During the Term, the Company will provide Executive with coverage under all employee benefit plans available
to the Company’s senior executives to the extent permitted under any such employee benefit plan and in accordance with the
terms thereof.

		b.	Vacation. During the term of Executive’s employment under this Agreement, Executive will be entitled to take four
weeks of paid vacation per calendar year as well as sick leave consistent with the Company’s policy in effect at the time.
Vacation will be taken at times mutually satisfactory to the Chief Executive Officer and the Executive. Executive will not take
vacations at times or in amounts that would materially affect Executive’s ability to perform his work duties. Up to 15 days
of Executive’s paid vacation may be rolled-over each year. Executive will be entitled to payment for any unused vacation
days upon termination of Executive’s employment with Company.

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		c.	Expenses. Executive is authorized to incur reasonable expenses in carrying out his duties and responsibilities under
this Agreement. The Company will reimburse Executive for such expenses upon presentation by Executive from time to time of appropriately
itemized and approved accounts of such expenditures consistent with the Company’s policies and practices.

		5.	Termination of Employment.

		a.	Termination Without Cause. If Executive’s employment is terminated by the Company (other than for Cause), Executive
will be entitled to all accrued and unpaid Base Salary and accrued benefits through the date of termination plus he will be entitled
to receive the following severance benefits:

		(i)	Executive will be entitled to his remaining Base Salary through the Term, provided, however, if Executive is terminated without
cause during the final 18 months of the Term, Executive will be entitled to a full 18 months of Base Salary from the date of termination,
to be paid within 5 business days from the date of resignation; and

		(ii)	Company will provide Executive with the same or similar health care benefits (including life, dental and vision, if any) as
provided to Executive at the time of termination, such health care benefits to be provided for a period of 18 months from the date
of termination; and

		(iii)	All options as set forth in section 3.c. above will vest.

Upon termination of Executive’s employment without
cause, except for the obligations set forth in this subsection a., the obligations of the Company to make any further payments
or to provide any further benefits to Executive under this Agreement will cease and terminate.

		b.	Termination By Resignation. Except as set forth below, if Executive resigns for any reason, Executive will be entitled
to receive only accrued but unpaid Base Salary and accrued benefits (including vested options pursuant to subsection 3.c. above)
through the effective date Executive’s resignation; provided, however, in the event that Executive resigns with an effective
date not more than 180 days following a Change of Control, Executive will be entitled to the following severance benefits:

		(i)	Executive will be entitled to a lump sum amount equal to 18 months of Executive’s Base Salary, to be paid within 5 business
days from the date of resignation; and

		(ii)	Company will provide Executive for a period of 12 months from the date of resignation with the same or similar health care
benefits (including dental and vision, if any) as provided to Executive at the time of resignation; and

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		(iii)	All options granted to the Executive that have not yet vested will immediately vest irrespective of whether Executive’s
employment continues or is terminated thereafter, except to the extent that such compensation is subject to Section 409A of
the Internal Revenue Code and such acceleration would violate Section 409A or subject Executive to additional taxes or interest
under Section 409A.

For purposes of this Agreement, a “Change of Control”
shall mean any of the following:

 

(i) Any “person” (as such term is used
in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) becomes
the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities
of Company representing more than 40% of the total voting power represented by Company’s then outstanding voting securities;

 

(ii) A merger or consolidation of Company whether or
not approved by the Board of Directors of Company, other than a merger or consolidation that would result in the voting securities
of Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted
or into voting securities of the surviving entity) at least 60% of the total voting power represented by the voting securities
of Company or such surviving entity (or the parent of any such surviving entity) outstanding immediately after such merger or consolidation,
or a change in the ownership of all or substantially all of Company’s assets to a person not related (within the meaning
of income tax Regulations Section 1.409A-3(i)(5)(vii)(b)) to the Company; or

 

(iii) The replacement during any 12-month period of
a majority of the members of the Board of Directors of Company with directors whose appointment or election was not endorsed by
a majority of the members before the date of the appointment or election.

 

(iv) A material change in the Executive’s responsibilities
and duties from that described in Paragraph 1 of this Agreement.

 

		c.	Termination For Cause. The Company will have the right to terminate the employment of Executive for Cause. In the event
that Executive’s employment is terminated by the Company for Cause, Executive will be entitled to receive only accrued but
unpaid Base Salary and accrued benefits (including vested options granted pursuant to subsection 3.c above) through the date of
termination. Executive will not be entitled to any bonus payments or severance payments unless agreed to in writing by the Company.
Upon termination of Executive’s employment for Cause, except as set forth in this subsection c., the obligations of
the Company under this Agreement to make any further payments or to provide any further benefits to Executive will cease and terminate.
As used in this Agreement, the term “Cause” means as a result of (i) any breach of any written policy of the Company;
(ii) conduct involving moral turpitude, including, but not limited to, misappropriation or conversion of assets of the Company
(other than immaterial assets); (iii) Executive’s conviction of, or entry of a plea of nolo contendere to, a felony; and
(iv) a material breach of this Agreement.

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		d.	Permanent Disability. If Executive is unable to engage in the activities required by Executive’s job by reason
of any medically determined physical or mental impairment which has lasted or can be expected to last for a continuous period of
not less than three consecutive months (“Permanent Disability”), the Company or Executive may terminate Executive’s
employment on written notice thereof, and Executive will receive accrued but unpaid Base Salary and accrued benefits (including
vested options pursuant to subsection 3.c. above) through the date of termination and/or any payments under applicable employee
benefit plans or programs. Upon termination of Executive’s employment by Permanent Disability, except as set forth in this
subsection d., the obligations of the Company under this Agreement to make any further payments or to provide any further
benefits to Executive will cease and terminate.

		e.	Death. In the event of Executive’s death during the Term, Executive’s estate or designated beneficiaries
will receive or commence receiving, as soon as practicable, accrued but unpaid Base Salary through the date of death and any payments
under applicable employee benefit plans or programs (including vested options pursuant to subsection 3.c. above). Upon termination
of Executive’s employment by death, except as set forth in this subsection e., the obligations of the Company under
this Agreement to make any further payments or to provide any further benefits to Executive will cease and terminate.

		6.	Nondisclosure of Confidential Information. During Executive’s employment, and for a period of two years thereafter,
Executive will not, without the prior written consent of the Manager, use, divulge, disclose or make accessible to any other person,
firm, partnership, corporation or other entity any Confidential Information pertaining to the business of the Company or any of
its affiliates, except (a) while employed by the Company, in the business of and for the benefit of the Company, or (b) as required
by law. “Confidential Information” includes without limitation non-public information concerning the financial
data, business plans, product development (or other proprietary product data), customer lists, marketing, acquisition and divestiture
plans and other non-public, proprietary and confidential information of the Company. Executive or his legal representatives, heirs
or designated beneficiaries must return all Confidential Information within 15 days of the termination of Executive’s employment
for any reason. Executive acknowledges that this Section 6 survives the termination of Executive’s employment and
is enforceable by the Company at anytime, regardless of whether the Executive continues to be employed by the Company.

		7.	Non-Competition and Non-Solicitation. 

		a.	From the date hereof through the End Date or, in the event Executive’s employment is terminated pursuant to Section
5.c. hereof, from the date hereof through the first anniversary of Executive’s termination of employment with the Company,
Executive agrees that, without the prior written consent of the Chief Executive Officer, he will not (i) engage in or have any
direct interest in, as an employee, officer, director, agent, subcontractor, consultant, security holder, partner, creditor or
otherwise, any business in competition with the Company; (ii) cause or attempt to cause any person who is, or was at any time during
the six months immediately preceding the time of the solicitation or hiring of Executive, an employee of the Company to leave the
employment of the Company; or (iii) solicit, divert or take away, or attempt to take away, the business or patronage of any client,
customer or account, or prospective client, customer or account, of the Company.

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		b.	For purposes of this Section 7, a business will be deemed to be in competition with the Company if it is in the business
of providing services to oil and/or gas production companies.

		c.	Executive acknowledges that this Section 7 survives the termination of Executive’s employment and is enforceable
by the Company at any time, regardless of whether the Executive continues to be employed by the Company.

		d.	Executive and the Company agree that this covenant not to compete is a reasonable covenant under the circumstances with respect
to both scope and duration, and further agree that if in the opinion of any court of competent jurisdiction such restraint is not
reasonable in any respect, such court will have the right, power and authority to excise or modify such provision or provisions
of this covenant as to the court will appear not reasonable and to enforce the remainder of the covenant as so amended.

		e.	Executive agrees that any breach of the covenants contained in this Section 7 would irreparably injure the Company.
Accordingly, Executive agrees that the Company may, in addition to pursuing any other remedies it may have in equity, obtain an
injunction against Executive from any court having jurisdiction over the matter restraining any further violation of this Agreement
by Executive and cease making any payments otherwise required by this Agreement.

		8.	Ownership of Intellectual Property. Executive acknowledges and agrees that all intellectual property created, acquired,
adapted, modified or improved, in whole or in part, by or through the efforts of Executive during the course of his employment
by the Company, including without limitation all copyrights, patents, trademarks, service marks, trade secrets, know-how or other
work product in any way related to the Company’s operations and activities, are works for hire and are owned exclusively
by the Company, and Executive hereby disclaims any right or interest in or to any such intellectual property.

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		9.	Miscellaneous. 

		a.	All notices and other communications required or to be given under this Agreement will be in writing and given either (i) by
personal delivery against a receipted copy, (ii) by certified or registered United States mail, return receipt requested, postage
prepaid, (iii) by facsimile, or (iv) by attachment to electronic mail in PDF or similar file format, at the addresses and numbers
set forth on the signature page hereto or such other addresses and numbers as a party hereto may provide in accordance with this
subsection a. Notice will be deemed delivered when received if by personal delivery; three days after placement with the
United States Postal Service if mailed; upon receipt of a confirmation that the transmission has been successfully sent if by facsimile;
and when sent if sent by electronic mail.

		b.	This Agreement, along with any amendments from time to time made hereto, constitutes the full, entire and integrated agreement
between the parties hereto with respect to the subject matter hereof.

		c.	This contract will be binding upon and inure to the benefit of the heirs and representatives of Executive and the assigns and
successors of the Company, but neither this Agreement nor any rights or obligations hereunder will be assignable by Executive (except
by will or by operation of the laws of intestate succession) or by the Company, except that the Company may assign this Agreement
to any successor (whether by merger, purchase or otherwise) to all or substantially all of the stock, assets or businesses of the
Company, if such successor expressly agrees to assume the obligations of the Company hereunder.

		d.	Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable
law, but if any clause or provision of this Agreement is held illegal, invalid or unenforceable then it is the intention of the
parties hereto that the remainder of this Agreement will not be affected thereby. It is also the intention of the parties to this
Agreement that in lieu of each clause or provision of this Agreement that is illegal, invalid or unenforceable, there be added,
as a part of this Agreement, a clause or provision as similar in terms to such illegal, invalid or unenforceable clause or provision
as may be legal, valid and enforceable.

		e.	The respective rights and obligations of the parties hereunder will survive any termination of this Agreement to the extent
necessary to the intended preservation of such rights and obligations. The provisions of this subsection e. are in addition
to the survivorship provisions of any other section of this Agreement.

		f.	No provision of this Agreement may be amended, waived or otherwise modified without the prior written consent of all of the
parties hereto.

		g.	The waiver by any party hereto of a breach of any provision or condition contained in this Agreement will not operate or be
construed as a waiver of any subsequent breach or of any other conditions hereof.

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		h.	This Agreement may be executed in any number of counterparts, each of which will be deemed to be an original and all of which
together will be deemed to be one and the same instrument.

		i.	This Agreement was made in the state of Colorado, and will be governed by, construed, interpreted and enforced in accordance
with the laws of the state of Colorado.

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Signature
Page 

to Employment Agreement

The parties hereto have executed or caused to be executed
this Employment Agreement effective as of the date first above written.

 

	 	Company:
	 	 
	 	Enservco Corporation, a Delaware
corporation
	 	 
	 	 
	 	By: /s/ Rick D. Kasch
	 	Rick D. Kasch, President
	 	 
	 	 
	 	Executive:
	 	 
	 	/s/ Robert Devers
	 	Robert DeversEX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
 SECOND
AMENDMENT TO 
 EMPLOYMENT AGREEMENT 

THIS SECOND AMENDMENT TO EMPLOYMENT AGREEMENT, dated as of June 30, 2014 (this “Amendment”), is entered into by and between
Forest Laboratories, Inc., a Delaware corporation, and Brenton L. Saunders (the “Executive”). 
 WHEREAS, the Company and
the Executive are parties to that certain Employment Agreement, dated as of October 1, 2013 and amended as of February 16, 2014, by and between the Company and the Executive (the “Employment Agreement”); and 

WHEREAS, the Compensation Committee of the Board of Directors of the Company has determined that it is in the best interests of the Company
and its stockholders to enter into this Amendment in order to ensure that the Company will have the continued dedication of the Executive, notwithstanding the possibility, threat, or occurrence of a Change of Control (as defined in the Employment
Agreement) of the Company. 
 NOW, THEREFORE, in consideration of the foregoing, of the mutual promises contained herein, and of other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
  

	1.	Certain Reductions of Payments. Section 9 of the Employment Agreement is hereby amended and restated in its entirety to read as follows: 

 

	 	9.	Certain Reductions of Payments. 

  

	 	(a)	Reduced Amount. Anything in this Agreement to the contrary notwithstanding, in the event that the Accounting Firm (as defined in Section 9(e)) shall determine that receipt of all Payments (as defined in
Section 9(e)) would subject the Executive to tax under Section 4999 of the Code, the Accounting Firm shall determine whether some amount of Payments meets the definition of “Reduced Amount” (as defined in Section 9(e)). If
the Accounting Firm determines that there is a Reduced Amount, then the aggregate Payments shall be reduced to such Reduced Amount. 

  

	 	(b)	 Determinations. If the Accounting Firm determines that the aggregate Payments should be reduced to the Reduced Amount, the Company shall
promptly give the Executive notice to that effect and a copy of the detailed calculation thereof, and the Executive may then elect, in his or her sole discretion, which and how much of the Payments shall be eliminated or reduced (as long as after
such election the Present Value (as defined in Section 9(e)) of the aggregate Payments equals the Reduced Amount); provided that the Executive shall not be permitted to elect to reduce any Payment that constitutes “nonqualified deferred
compensation” for purposes of Section 409A of the Code, and shall advise the Company in writing of his or her election within ten days of his or her receipt of notice. If no such election is made by the Executive within such ten-day period
or 

	 	
if the election made by the Executive within such ten-day period does not sufficiently reduce the Payments to the Reduced Amount, the Company shall reduce the Payments (or, the remaining
Payments) in the following order: (1) by reducing amounts payable pursuant to Section 6(a)(i)(B) of the Agreement (and, to the extent applicable, Section 6(a)(i)(A)(2) of the Agreement), then (2) by reducing payments payable in
respect of equity awards subject to performance-based vesting criteria, then (3) by reducing amounts payable pursuant to Section 6(a)(ii) of the Agreement, then (4) by reducing amounts payable pursuant to Section 6(a)(iii) of the
Agreement, then (5) by reducing amounts payable pursuant to Section 6(a)(iv) of the Agreement, and then (6) by reducing payments payable in respect of equity awards subject to time-based vesting criteria. All determinations made by
the Accounting Firm under this Section 9 shall be binding upon the Company and the Executive and shall be made within 60 days of the Executive’s Date of Termination. In connection with making determinations under this Section 9,
the Accounting Firm shall take into account the value of any reasonable compensation for services to be rendered by the Executive before or after the Change of Control, including any noncompetition provisions that may apply to the Executive and the
Company shall cooperate in the valuation of any such services, including any noncompetition provisions. 

  

	 	(c)	Overpayments; Underpayments. As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Accounting Firm hereunder, it is possible that
Payments will have been made by the Company that should not have been made (“Overpayment”) or that additional Payments that will have not been made by the Company could have been made (“Underpayment”), in each case, consistent
with the calculation of the Reduced Amount hereunder. In the event that the Accounting Firm, based upon the assertion of a deficiency by the Internal Revenue Service against either the Company or the Executive that the Accounting Firm believes has a
high probability of success, determines that an Overpayment has been made, any such Overpayment paid or distributed by the Company to or for the benefit of the Executive shall be repaid by the Executive to the Company together with interest at the
Applicable Federal Rate provided for in Section 7872(f)(2) of the Code; provided, however, that no such repayment shall be required if and to the extent such payment would not either reduce the amount on which the Executive is subject to
taxation under Section 1 and Section 4999 of the Code or generate a refund of such taxes. In the event that the Accounting Firm, based upon controlling precedent or substantial authority, determines that an Underpayment has occurred, any
such Underpayment shall be promptly paid by the Company to or for the benefit of the Executive together with interest at the Applicable Federal Rate provided for in Section 7872(f)(2) of the Code. 

	 	(d)	Fees and Expenses. All fees and expenses of the Accounting Firm in implementing the provisions of this Section 9 shall be borne by the Company. 

 

	 	(e)	Certain Definitions. The following terms shall have the following meanings for purposes of this Agreement: 

(i) A “Payment” shall mean any payment or distribution in the nature of compensation (within the meaning of Section 280G(b)(2)
of the Code) to or for the benefit of the Executive, whether paid or payable pursuant to this Agreement or otherwise; 

(ii) “Net After-Tax Receipt” shall mean the Present Value of a Payment net of all taxes imposed on the Executive
with respect thereto under Sections 1, 3121 and 4999 of the Code and under applicable state and local laws, determined by applying the highest marginal rate under Section 1 of the Code and under state and local laws which applied to the
Executive’s taxable income for the immediately preceding taxable year, or such other rate(s) as the Executive shall certify, in the Executive’s sole discretion, as likely to apply to the Executive in the relevant tax year(s);

 (iv) “Accounting Firm” shall mean Golden Parachute Tax Solutions LLC or such other nationally recognized certified public
accounting firm as may be designated by the Executive; 
 (v) “Present Value” of a Payment shall mean the present value as of the
date of the change of control for purposes of Section 280G of the Code of the portion of such Payment that constitutes a “parachute payment” under Section 280G(b)(2), as determined by the Accounting Firm for purposes of
determining whether and to what extent the excise tax under Section 4999 of the Code will apply to such Payment; and 
 (vi)
“Reduced Amount” shall mean the amount of Payments that (x) has a Present Value that is less than the Present Value of all Payments and (y) results in aggregate Net After-Tax Receipts for all Payments that are greater than the
Net After-Tax Receipts for all Payments that would result if the aggregate Present Value of Payments were any other amount that is less than the Present Value of all Payments. 

 

	2.	Miscellaneous. 

  

	 	(a)	Full Force and Effect. Except as expressly amended by this Amendment, all terms and conditions of the Employment Agreement shall remain in full force and effect. 

 

	 	(b)	Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the State of New York, without reference to principles of conflict of laws. 

	 	(c)	Counterparts. This Amendment may be executed in two or more counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument.

 [Signature Page Follows] 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment, effective as of the date
first written above. 
  

			
	FOREST LABORATORIES, INC.
		
	By:	 	 /s/ Karen L. Ling

	Name:	 	Karen L. Ling
	Title:	 	 Senior Vice President—Chief
 Human
Resources Officer

	
	EXECUTIVE
	
	 /s/ Brenton L. Saunders

	Brenton L. Saunders

 [Signature Page to Saunders Amendment to Employment Agreement]

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