Document:

Exhibit 10.1

 

ADDITIONAL ISSUANCE AGREEMENT

 

This Additional Issuance
Agreement (this “Agreement”), dated as of April __, 2017, is made pursuant to that certain Securities Purchase
Agreement, dated as of March 11, 2015, as amended (the “Purchase Agreement”), by and between EnerJex Resources,
Inc. (the “Company”) and Alpha Capital Anstalt (the “Purchaser”) for the purchase of the
Company’s Series C Convertible Preferred Stock (the “Preferred Stock”). Capitalized terms used and
not otherwise defined herein that are defined in the Purchase Agreement shall have the meanings given such terms in the Purchase
Agreement.

 

For good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

 

1.          Issuance
of Preferred Stock.

 

		(a)	Initial Issuance. Promptly following the date hereof, in consideration for
the payment of $300,000 (the “Purchase Price”), the Company hereby agrees to issue, against such payment, to
the Purchaser 300 shares of Preferred Stock of the Company, which Preferred Stock shall be issued pursuant to the Certificate
of Designation attached hereto (a “Certificate of Designation”). The Company shall deliver to the Purchaser
the shares of Preferred Stock against payment of the Purchase Price.

 

		(b)	Optional Issuance. From the date hereof until the ______ anniversary of the
date hereof, after the Initial Closing Date, the Purchaser may, in its sole determination, elect to purchase, in whole or in part,
through one or more purchases up to an additional, in the aggregate, 200 shares of Preferred Stock for an aggregate purchase price
of $200,000 (the “Optional Shares” and such right to receive the Optional Shares pursuant to this Section 2.2,
the “Optional Right”). The Optional Shares shall be on the same terms and conditions as the sale of the Preferred
Stock. Subject to the terms of this Agreement, each closing of Optional Shares (“Optional Closing”) shall occur
within 3 Trading Days of a duly delivered exercise notice by the exercising party (each such notice, an “Optional Notice”
and each such Optional Closing following delivery of an Optional Notice, an “Optional Closing Date”). Upon
the issuance and sale of the Optional Shares, the Optional Shares shall be deemed shares of Preferred Stock (and such underlying
shares, Conversion Shares) for the purposes of this Agreement.

 

    	 	1	 

     

    

 

2.            Documents.
Except as set forth in the Certificate of Designation of Preferences,
Rights and Limitations of Series C Convertible Stock, the rights and obligations of the Purchaser and of the Company with
respect to the Preferred Stock and the shares of Common Stock issuable under the Preferred Stock (the “Conversion Shares”)
shall be identical in all respects to the rights and obligations of such Purchaser and of the Company with respect to the Preferred
Stock and the Underlying Shares issued and issuable pursuant to the Purchase Agreement; provided, however, where
applicable and with respect to the unregistered characteristics of the Preferred Stock and Conversion Shares (ie. Section 4.1 as
it applies to the Warrant Shares), the obligations of the Conversion Shares shall be identical to the Company’s obligations
with respect to the Warrant Shares. Any rights of a Purchaser or covenants of the Company which are dependent on such Purchaser
holding securities of the Company or which are determined in magnitude by such Purchaser’s purchase of securities pursuant
to the Purchase Agreement shall be deemed to include any securities purchased or issuable hereunder. The Purchase Agreement is
hereby amended so that the term “Preferred Stock” includes the Preferred Stock issued hereunder and “Underlying
Shares” and “Warrant Shares” includes the Conversion Shares.

 

3.           Representations
and Warranties of the Company. The Company hereby makes to the Purchaser the following representations and warranties:

 

(a)          Authorization;
Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated
by this Agreement and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of this Agreement
by the Company and the consummation by the Company of the transactions contemplated hereby have been duly authorized by all necessary
action on the part of the Company and no further action is required by the Company, its board of directors or its stockholders
in connection therewith other than in connection with the Required Approvals. This Agreement has been duly executed by the Company
and, when delivered in accordance with the terms hereof, will constitute the valid and binding obligation of the Company enforceable
against the Company in accordance with its terms, except (i) as limited by general equitable principles and applicable bankruptcy,
insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally,
(ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and
(iii) insofar as indemnification and contribution provisions may be limited by applicable law.

 

    	 	2	 

     

    

 

(b)          No
Conflicts. The execution, delivery and performance of this Agreement by the Company and the consummation by the Company of
the transactions contemplated hereby do not and will not: (i) conflict with or violate any provision of the Company’s certificate
or articles of incorporation, bylaws or other organizational or charter documents; or (ii) conflict with, or constitute a default
(or an event that with notice or lapse of time or both would become a default) under, result in the creation of any Lien (except
as contemplated by the Security Documents) upon any of the properties or assets of the Company in connection with, or give to others
any rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both) of, any material
agreement, credit facility, debt or other material instrument (evidencing Company debt or otherwise) or other material understanding
to which such Company is a party or by which any property or asset of the Company is bound or affected; or (iii) subject to the
Required Approvals, conflict with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or
other restriction of any court or governmental authority to which the Company is subject (including federal and state securities
laws and regulations), or by which any property or asset of the Company is bound or affected, except, in the case of each of clauses
(ii) and (iii), such as could not have or reasonably be expected to result in a Material Adverse Effect.

 

(c)          Issuance
of the Preferred Stock. The Preferred Stock is duly authorized and, upon the execution of this Agreement by a Purchaser, will
be duly and validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company other than restrictions
on transfer provided for in the Transaction Documents. The Conversion Shares, when issued in accordance with the terms of the Certificate
of Designation, will be validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company. The Company
has reserved from its duly authorized capital stock a number of shares of Common Stock for issuance of the Conversion Shares at
least equal to the Required Minimum on the date hereof.

 

(d)          Affirmation
of Prior Representations and Warranties. The Company hereby represents and warrants to each Purchaser that the Company’s
representations and warranties listed in Section 3.1 of the Purchase Agreement are true and correct as of the date hereof.

 

(e)          Affirmation
of Adjustment to Series B Convertible Preferred Stock. The Company represents and warrants that, pursuant to Section 7(b) of
the Certificate of Designation to the Series B Convertible Preferred Stock and Section 3(b) of the Common Stock Purchase Warrant
issued pursuant to the Purchase Agreement, the Conversion Price and Exercise Price, as applicable, is reduced to $0.30 immediately
upon execution of this Agreement, subject to further adjustment therein.

 

(f)          Registered
Characteristics; Tacking. The Company acknowledges and agrees that in accordance with Section 3(a)(9) of the Securities Act
and Rule 144, the Securities originally issued pursuant to the Purchase Agreement shall maintain (on the date hereof and hereafter)
their registered characteristics and/or will tack back to the original Closing Date of the Purchase Agreement (assuming for such
purposes cashless exercise of the Warrants). Upon conversion of such Preferred Stock or exercise of the Warrants (assuming cashless
exercise), the Underlying Shares issuable thereunder shall be freely tradeable and free of any restrictions on resale or Securities
Act legends.

 

4.           Representations
and Warranties of the Purchaser. The Purchaser hereby represents and warrants as of the date hereof to the Company as follows:

 

    	 	3	 

     

    

 

(a)          Authority.
The execution, delivery and performance by such Purchaser of the transactions contemplated by this Agreement have been duly authorized
by all necessary corporate or similar action on the part of such Purchaser. This Agreement has been duly executed by such Purchaser
and, when delivered by such Purchaser in accordance with the terms hereof, will constitute the valid and legally binding obligation
of such Purchaser, enforceable against it in accordance with its terms, except (i) as limited by general equitable principles and
applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’
rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable
remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.

 

(b)          Own
Account. Such Purchaser (i) understands that the shares of Preferred Stock and Conversion Shares are “restricted securities”
and have not been registered under the Securities Act or any applicable state securities law, (ii) is acquiring the Preferred Stock
as principal for its own account and not with a view to or for distributing or reselling such shares of Preferred Stock or any
part thereof in violation of the Securities Act or any applicable state securities law, (iii) has no present intention of distributing
any of such Securities in violation of the Securities Act or any applicable state securities law and (iv) has no arrangement or
understanding with any other persons regarding the distribution of such Preferred Stock (this representation and warranty not limiting
such Purchaser’s right to sell the Conversion Shares pursuant to the Registration Statement or otherwise in compliance with
applicable federal and state securities laws) in violation of the Securities Act or any applicable state securities law. Such Purchaser
is acquiring the shares of Preferred Stock hereunder in the ordinary course of its business. Such Purchaser does not have any agreement
or understanding, directly or indirectly, with any Person to distribute any of the Preferred Stock or Conversion Shares.

 

(c)          Purchaser
Status. Such Purchaser is an “accredited investor” as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7) or (a)(8)
under the Securities Act.

 

(d)          General
Solicitation. Such Purchaser is not purchasing the Preferred Stock as a result of any advertisement, article, notice or other
communication regarding the Preferred Stock published in any newspaper, magazine or similar media or broadcast over television
or radio or presented at any seminar or any other general solicitation or general advertisement.

 

(e)          Affirmation
of Prior Representations and Warranties. Such Purchaser hereby represents and warrants to the Company that its representations
and warranties listed in Section 3.2 of the Purchase Agreement are true and correct as of the date hereof.

 

    	 	4	 

     

    

 

5.           Public
Disclosure. The Company shall, by 9:00 p.m. (New York City time) on the Trading Day immediately following the date hereof,
issue a press release disclosing the material terms of the transactions contemplated hereby. From and after the issuance of the
press release, the Company represents to the Purchasers that it shall have publicly disclosed all material, non-public information
delivered to any of the Purchasers by the Company or any of its Subsidiaries, or any of their respective officers, directors, employees
or agents in connection with the transactions contemplated by the Transaction Documents. In addition, effective upon issuance of
the press release, the Company acknowledges and agrees that any and all confidentiality or similar obligations under any agreement,
whether written or oral, between the Company, any of its Subsidiaries or any of their respective officers, directors, agents, employees
or Affiliates on the one hand, and any of the Purchasers or any of their Affiliates on the other hand, shall terminate.

 

6.           Effect
on Transaction Documents. Except as expressly set forth above, all of the terms and conditions of the Transaction Documents
shall continue in full force and effect after the execution of this Agreement and shall not be in any way changed, modified or
superseded by the terms set forth herein, including, but not limited to, any other obligations the Company may have to the Purchaser
under the Transaction Documents. Notwithstanding the foregoing, this Agreement shall be deemed for all purposes as an amendment
to any Transaction Document as required to serve the purposes hereof, and in the event of any conflict between the terms and provisions
of the Certificate of Designation or any other Transaction Document, on the one hand, and the terms and provisions of this Agreement,
on the other hand, the terms and provisions of this Agreement shall prevail.

 

7.           Amendments
and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or supplemented,
and waivers or consents to departures from the provisions hereof may not be given, unless the same shall be in writing and signed
by the Company and each Purchaser.

 

8.           Notices.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be delivered as
set forth in the Purchase Agreement.

 

9.           Successors
and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each
of the parties and shall inure to the benefit of each Purchaser. The Company may not assign (except by merger) its rights or obligations
hereunder without the prior written consent of the Purchaser of the then-outstanding Securities. The Purchaser may assign their
rights hereunder in the manner and to the Persons as permitted under the Purchase Agreement.

 

10.         Execution
and Counterparts. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other
party, it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered by
facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and
binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if
such facsimile or “.pdf” signature page were an original thereof.

 

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11.         Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be determined
in accordance with the provisions of the Purchase Agreement.

 

12.         Severability.
If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal,
void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full
force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially
reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated
by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that
they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be
hereafter declared invalid, illegal, void or unenforceable.

 

13.         Headings.
The headings in this Agreement are for convenience only, do not constitute a part of the Agreement and shall not be deemed to limit
or affect any of the provisions hereof.

 

14.         Piggy-Back
Registrations. If the Company shall determine to prepare and file with the Commission a registration statement relating to
an offering for its own account or the account of others under the Securities Act of any of its equity securities, other than on
Form S-4 or Form S-8 (each as promulgated under the Securities Act) or their then equivalents relating to equity securities to
be issued solely in connection with any acquisition of any entity or business or equity securities issuable in connection with
the Company’s stock option or other employee benefit plans, then the Company shall deliver to the Purchaser a written notice
of such determination and, if within fifteen days after the date of the delivery of such notice, any the Purchaser shall so request
in writing, the Company shall include in such registration statement all or any part of such Underlying Shares issuable upon conversion
of the Preferred Stock issuable hereunder.

 

15.         Market
Standstill. From the date hereof until ___ days following the date hereof, the Company ), other than an Exempt Issuance, neither
the Company nor any Subsidiary shall make any issuance whatsoever of Common Stock or Common Stock Equivalents.

 

[SIGNATURE PAGE FOLLOWS]

 

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Executed as of the first date written above
by the undersigned duly authorized representatives of the Company and the Purchaser:

 

ENERJEX RESOURCES, INC.

 

	By:	 	 
	 	Name:	 
	 	Title:	 
	 	 
	ALPHA CAPITAL ANSTALT	 
	 	 
	Signature of Authorized Signatory:	 
	 	 
	Name of Authorized Signatory:	 
	 	 
	Title of Authorized Signatory:	 

 

    	 	7Exhibit 10.2

 

SERVICES AGREEMENT

 

This INTERIM SERVICES AGREEMENT
(this "Agreement"), entered into as of the 27th day of April, 2017, is by and between ENERJEX RESOURCES, INC.,,
a Nevada Corporation, with offices at 4040 Broadway, Suite 508, San Antonio, Texas 78209 ("Enerjex"), and CAMBER
ENERGY, INC., with offices at 450 Gears Road, Suite 860, Houston, Texas 77067 (the "Company"). A "Party"
shall mean either Enerjex or the Company, as the case may be; the "Parties" shall mean Enerjex and the Company,
collectively.

 

WHEREAS, the Company desires
to engage Enerjex to perform certain outsourced interim services; and, Enerjex is willing to provide the services of its personnel
to perform such tasks subject to the terms and conditions hereof.

 

NOW, THEREFORE, in consideration
of the mutual promises contained herein and for other good and valuable consideration, the receipt of which is hereby acknowledged,
Enerjex and the Company agree as follows:

 

1.           Services. The services
(the "Services") and fees will be more particularly described on the Schedule attached hereto.

 

2.           Fees and Expenses. The
Company will pay Enerjex the fees set forth on the applicable Schedule. In addition, the Company will reimburse Enerjex directly
for all pre-approved travel and out-of-pocket expenses incurred in connection with this Agreement (including any Schedules). Enerjex
shall invoice the Company for, and the Company shall pay to Enerjex for further remittance to the appropriate taxing authorities,
any sales or use taxes applicable to the Services. If the Company claims that it is exempt from any such sales or use taxes, then
the Company must provide Enerjex with an exemption certificate satisfactory to Enerjex. The Company understands that there will
be parallel efforts to ensure a smooth transition process, and will bear the burdens of those additional costs. The transition
process is expected to be completed within 90 days of execution of this Agreement.

 

3.           Payment Terms. Payments
to Enerjex should be made by check or electronic funds transfer in accordance with the instructions set forth below at the beginning
of each month. Any amounts not paid when due may be subject to a periodic service charge equal
to the lesser of 1.5% per month and the maximum amount allowed under applicable law, until such amounts are paid in full, including
assessed service charges. In lieu of terminating this Agreement, Enerjex may suspend the provision of any Services if amounts owed
are not paid in accordance with the terms of this Agreement.

 

Bank Name and Address:
Bank Name

Beneficiary: Enerjex

Beneficiary Account Number:
#####

ABA Transit/Routing Number:
#####

Please reference the Company's
name in the body of the payment.

 

4.           Effective
Date and Termination. This Agreement will be effective as of May 1, 2017. In the event that a Party commits a breach of
this Agreement (including any Schedule) and fails to cure the same within 10 days following delivery by the non-breaching Party
of written notice specifying the nature of the breach, the non-breaching Party may terminate this Agreement or the applicable
Schedule effective upon written notice of such termination. The termination rights set forth in this Section are in addition to
and not in lieu of the termination rights set forth in each of the Schedules.

 

5.           Warranties and Disclaimers.
ENERJEX WILL NOT BE RESPONSIBLE FOR ANY ACTION TAKEN BY THE COMPANY IN FOLLOWING OR DECLINING TO FOLLOW ANY OF ENERJEX'S ADVICE
OR RECOMMENDATIONS. THE SERVICES PROVIDED BY ENERJEX HEREUNDER ARE FOR THE SOLE BENEFIT OF THE COMPANY AND NOT ANY UNNAMED THIRD
PARTIES. 

 

6.            Limitation of Liability; Indemnity.

 

(a)          ENERJEX'S LIABILITY IN ANY AND ALL
CATEGORIES AND FOR ANY AND ALL CAUSES ARISING UNDER THIS AGREEMENT, WHETHER BASED IN CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY
OR OTHERWISE, WILL, IN THE AGGREGATE, NOT EXCEED THE ACTUAL FEES PAID BY THE COMPANY TO ENERJEX DURING THIS AGREEMENT. IN NO EVENT
WILL ENERJEX BE LIABLE FOR INCIDENTAL, CONSEQUENTIAL, PUNITIVE, INDIRECT OR SPECIAL DAMAGES, INCLUDING, WITHOUT LIMITATION, INTERRUPTION
OR LOSS OF BUSINESS, PROFIT OR GOODWILL. AS A CONDITION FOR RECOVERY OF ANY LIABILITY, THE COMPANY MUST ASSERT ANY CLAIM AGAINST
ENERJEX WITHIN THREE MONTHS AFTER DISCOVERY OR 60 DAYS AFTER THE TERMINATION OR EXPIRATION OF THE APPLICABLE SCHEDULE UNDER WHICH
THE LIABILITY ARISES, WHICHEVER IS EARLIER.

 

(b)          THE COMPANY AGREES TO INDEMNIFY ENERJEX
TO THE FULL EXTENT PERMITTED BY LAW FOR ANY LOSSES, COSTS, DAMAGES, AND EXPENSES (INCLUDING REASONABLE ATTORNEYS' FEES), AS THEY
ARE INCURRED, IN CONNECTION WITH ANY CAUSE OF ACTION, SUIT, OR OTHER PROCEEDING ARISING IN CONNECTION WITH ENERJEX'S SERVICES TO
THE COMPANY.

 

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7.            Insurance. If an Enerjex employee
is serving as an officer or executive of the Company, the Company will maintain directors and officers insurance covering the Enerjex
employee in an amount reasonably acceptable to the Enerjex at no additional cost to Enerjex or the Enerjex employee, and the Company
will maintain such insurance at all times while this Agreement remains in effect. Furthermore, the Company will maintain such insurance
coverage with respect to occurrences arising during the term of this Agreement for at least two years following the termination
or expiration of the applicable Schedule or will purchase a directors' and officers' extended reporting period or "tail"
policy to cover the Enerjex employee for such two year time period. The Company's directors and officers insurance must be primary
and non-contributory. Upon the execution of this Agreement and at any other time requested by Enerjex, the Company will provide
Enerjex a certificate of insurance evidencing that the Company is in compliance with the requirements of this Section with a note
in the Description of Operations section of the certificate indicating that the coverage is extended to the Enerjex employee.

 

8.            Governing Law, Arbitration and
Witness Fees.

 

(a)          This Agreement will be governed by and
construed in accordance with the laws of the State of Texas, without regard to conflicts of laws provisions.

 

(b)          If the Parties are unable to resolve
any dispute arising out of or in connection with this Agreement, the Parties agree and stipulate that any such disputes will be
settled by binding arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association ("AAA").
The arbitration will be conducted in the Houston, Texas office of the AAA by a single arbitrator selected by the Parties according
to the rules of the AAA, and the decision of the arbitrator will be final and binding on both Parties. In the event that the Parties
fail to agree on the selection of the arbitrator within 30 days after either Party's request for arbitration under this Section,
the arbitrator will be chosen by the AAA. The arbitrator may in his or her discretion order documentary discovery but will not
allow depositions without a showing of compelling need. The arbitrator will render his or her decision within 90 days after the
call for arbitration. Judgment on the award of the arbitrator may be entered in and enforced by any court of competent jurisdiction.
The arbitrator will have no authority to award damages in excess or in contravention of this Agreement and may not amend or disregard
any provision of this Agreement, including this Section. Notwithstanding the foregoing, either Party may seek appropriate injunctive
relief from any court of competent jurisdiction, and Enerjex may pursue payment of any unpaid amounts due under this Agreement
through any court of competent jurisdiction.

 

(c)          In the event any professional of Enerjex
is requested or authorized by the Company or is required by government regulation, subpoena, or other legal process to produce
documents or appear as witnesses in connection with any action, suit or other proceeding initiated by a third party against the
Company or by the Company against a third party, the Company will, so long as Enerjex is not a party to the proceeding in which
the information is sought, reimburse Enerjex for its professional's time (based on reasonable customary rates) and reasonable out-of-pocket
expenses, as well as the reasonable fees and expenses of its counsel, incurred in responding to such requests.

 

9.            Miscellaneous. This Agreement
together with all Schedules constitutes the entire agreement between the Parties with regard to the subject matter hereof and supersedes
any and all agreements, whether oral or written, between the Parties with respect to its subject matter. No amendment or modification
to this Agreement will be valid unless in writing and signed by both Parties. If any portion of this Agreement is found to be invalid
or unenforceable, such provision will be deemed severable from the remainder of this Agreement and will not cause the invalidity
or unenforceability of the remainder of this Agreement, except to the extent that the severed provision deprives either Party of
a substantial portion of its bargain. Neither Party will be deemed to have waived any rights or remedies accruing under this Agreement
unless such waiver is in writing and signed by the Party electing to waive the right or remedy. The waiver by any Party of a breach
or violation of any provision of this Agreement will not operate or be construed as a waiver of any subsequent breach of such provision
or any other provision of this Agreement. Neither Party will be liable for any delay or failure to perform under this Agreement
(other than with respect to payment obligations) to the extent such delay or failure is a result of an act of God, war, earthquake,
civil disobedience, court order, labor dispute, or other cause beyond such Party's reasonable control. No Party may assign its
rights or obligations under this Agreement without the express written consent of the other Party. Nothing in this Agreement will
confer any rights upon any person or entity other than the parties hereto and their respective successors and permitted assigns.
The expiration or termination of this Agreement or any Schedule will not destroy or diminish the binding force and effect of any
of the provisions of this Agreement or any Schedule that expressly, come into or continue in effect on or after such expiration
or termination, including, without limitation, provisions relating to payment of fees and expenses (including witness fees and
expenses), governing law, arbitration, limitation of liability and indemnity.

 

The Company agrees to reimburse Enerjex for
all reasonable out-of-pocket costs and expenses (including, without limitation, reasonable attorneys' fees, court costs and arbitration
fees) incurred by Enerjex in enforcing collection of any monies due under this Agreement.

 

    	 	Page
	 	2

     

    

 

IN WITNESS WHEREOF, the Parties have caused
this Agreement to be executed by their duly authorized representatives as of the dates set forth below.

 

	 	 	 	[Signature page to follow]
	ENERJEX RESOURCES, INC.,   	 	CAMBER ENERGY, LLC:
	 	 	 	 
	By:  	 	 	By:  	 
	 	 	 	 	 
	Name:	Louis Schott	 	Name: 	Richard N. Azar II
	 	 	 	 	 
	Title:	Interim CEO	 	Title: 	Chairman of the Board
	 	 	 	 	 
	Date: 	 	 	Date:	 

 

    	 	Page
	 	3

     

    

 

Schedule to Services Agreement

 

This Schedule is entered into in connection
with that certain Interim Services Agreement, dated April 26, 2017 (the "Agreement"), by and between Enerjex Resources,
Inc., ("Enerjex") and Camber Energy, Inc. (the "Company") and will be governed by
the terms and conditions of the Agreement.

 

1.           Service Description or Position: Back-office Services

 

Enerjex will be responsible for performing all back-office services
for the Company, including all data entry and bookkeeping, financial reporting, management reporting, reserve reporting, SEC compliance,
audits, filings, and any other services required to maintain the Company’s good standing with all local, state, and federal
laws. For the avoidance of doubt, Enerjex is not responsible for any field operations, including drilling, operating or maintaining
any wells or leases, of the Company under the terms of this Agreement.

 

2.           Company Supervisor: Richard N. Azar II, Chairman
of the Board

 

3.           Start Date: May 1, 2017

 

4.           Minimum Term: 90 Days

 

5.           Termination:

 

(a)          After the expiration of any minimum term, either Party may
terminate this Schedule by providing the other Party a minimum of 30 days' advance written notice and such termination will be
effective as of the date specified in such notice, provided that such date is no earlier than 30 days after the date of delivery
of the notice. Enerjex will continue to provide, and the Company will continue to pay for, the Services until the termination effective
date.

 

(b)          Either Party may terminate this Schedule immediately upon
written notice to the other Party if the other Party is engaged in or asks the other Party to engage in or ignore any illegal or
unethical activity.

 

(c)          The termination rights set forth in this section are in addition
to and not in lieu of the termination rights set forth in the Agreement.

 

6.            Fees: Except as otherwise set forth below, the Company
will pay to Enerjex a fee of $150,000 per month for services rendered, plus any pre-approved out-of-pocket travel expenses. As
new opportunities arise, the Company and Enerjex will mutually agree to negotiate in good faith on incremental fee increases. If
the Company has to maintain certain employees for compliance purposes, such as a Chief Financial Offier, Chief Accounting Officer,
and/or Controller, the fee the Company will pay to Enerjex will be reduced by the amount of applicable payroll, taxes, and benefits
paid to those employees, subject to approval from Enerjex.

 

In the event of a conflict between the terms and conditions of this
Schedule and the Agreement, the terms and conditions of the Agreement will control.

 

	Enerjex Resources, Inc.:	 	Camber Energy, Inc.:
	 	 	 	 	 
	By:	 	 	By: 	 
	 	 	 	 	 
	Name:	Louis Schott	 	Name:	Richard N. Azar II
	 	 	 	 	 
	Title:	Interim CEO	 	Title:  	Chairman of the Board
	 	 	 	 	 
	Date: 	 	 	Date:  	 

 

    	 	Page
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